Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Computer software acquired by the assessee was held to fall within the depreciable block of assets for computers including computer software, so depreciation had to be allowed at that rate and not as a business or commercial right under the intangible asset head. On section 14A read with Rule 8D, the Tribunal accepted the assessee's own disallowance on the facts, noting no dividend income from equity investments and only nominal exempt LLP profit, and restricted the disallowance to the suo motu amount. For MAT under section 115JB, it followed Vireet Investment and held that a Rule 8D disallowance does not enter book profit, so the addition was deleted and interest was to be recomputed consequentially.
Computer software acquired by the assessee was held to fall within the depreciable block of assets for computers including computer software, so depreciation had to be allowed at that rate and not as a business or commercial right under the intangible asset head. On section 14A read with Rule 8D, the Tribunal accepted the assessee's own disallowance on the facts, noting no dividend income from equity investments and only nominal exempt LLP profit, and restricted the disallowance to the suo motu amount. For MAT under section 115JB, it followed Vireet Investment and held that a Rule 8D disallowance does not enter book profit, so the addition was deleted and interest was to be recomputed consequentially.
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