Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Related-party imports allow rejection of declared transaction value where common family control creates a reasonable doubt about the truth and accuracy of the price, and proof of additional cash payment is not required once that doubt arises. After rejection, customs valuation must follow the prescribed methods sequentially, and the authority cannot apply multiple rules at once or switch between rules for different goods without showing why earlier methods failed for each consignment. Residual valuation cannot be based on arbitrary figures such as assumed average undervaluation, export-country prices, or domestic sale prices when those do not fit the valuation scheme. On that basis, consequential duty, confiscation, fine, interest and penalties cannot stand if the re-determined value is unsustainable.
Related-party imports allow rejection of declared transaction value where common family control creates a reasonable doubt about the truth and accuracy of the price, and proof of additional cash payment is not required once that doubt arises. After rejection, customs valuation must follow the prescribed methods sequentially, and the authority cannot apply multiple rules at once or switch between rules for different goods without showing why earlier methods failed for each consignment. Residual valuation cannot be based on arbitrary figures such as assumed average undervaluation, export-country prices, or domestic sale prices when those do not fit the valuation scheme. On that basis, consequential duty, confiscation, fine, interest and penalties cannot stand if the re-determined value is unsustainable.
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