Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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Section 14A disallowance cannot be added to book profit for MAT computation under section 115JB where binding co-ordinate Bench precedent has already settled the issue. The HC followed its earlier decision in Gujarat Fluorochemicals Ltd. and the same view adopted in the taxpayer's own case, and held that no addition to book profit can be made on the basis of the section 14A disallowance. On that settled position, the Revenue's proposed questions were treated as concluded against it, and the tax appeal was dismissed for want of any substantial question of law.
Section 14A disallowance cannot be added to book profit for MAT computation under section 115JB where binding co-ordinate Bench precedent has already settled the issue. The HC followed its earlier decision in Gujarat Fluorochemicals Ltd. and the same view adopted in the taxpayer's own case, and held that no addition to book profit can be made on the basis of the section 14A disallowance. On that settled position, the Revenue's proposed questions were treated as concluded against it, and the tax appeal was dismissed for want of any substantial question of law.
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