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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Rough diamonds marked by Galaxy and DiaExpert laser systems were treated as processed rather than natural-state stones because scanning, mapping and surface marking were regarded as working/processing and as engraving under the tariff notes. Applying Rule 1 of the General Rules for Interpretation and the HSN notes to Heading 7102, the goods were classified under tariff item 71023990, not 71023100. On that basis, the customs exemption for rough diamonds under serial No. 345 of Notification No. 50/2017-Cus was denied because the goods were no longer rough diamonds in their natural state.
Rough diamonds marked by Galaxy and DiaExpert laser systems were treated as processed rather than natural-state stones because scanning, mapping and surface marking were regarded as working/processing and as engraving under the tariff notes. Applying Rule 1 of the General Rules for Interpretation and the HSN notes to Heading 7102, the goods were classified under tariff item 71023990, not 71023100. On that basis, the customs exemption for rough diamonds under serial No. 345 of Notification No. 50/2017-Cus was denied because the goods were no longer rough diamonds in their natural state.
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