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...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
For charitable income, Explanation 2(ii)(b) to section 11(1) operated as a mechanism distinct from accumulation under section 11(2): the assessee claimed only deemed application in the immediately succeeding year, not long-term accumulation. The Tribunal held that, for A.Y. 2015-16, a written option within the time allowed under section 139(1) was sufficient; the later Form No. 9A requirement could not be applied retrospectively. Disclosure in the return and furnishing of reasons before completion of assessment satisfied the statutory condition, so the disallowance of deemed application and the consequential denial of exemption were unsustainable.
For charitable income, Explanation 2(ii)(b) to section 11(1) operated as a mechanism distinct from accumulation under section 11(2): the assessee claimed only deemed application in the immediately succeeding year, not long-term accumulation. The Tribunal held that, for A.Y. 2015-16, a written option within the time allowed under section 139(1) was sufficient; the later Form No. 9A requirement could not be applied retrospectively. Disclosure in the return and furnishing of reasons before completion of assessment satisfied the statutory condition, so the disallowance of deemed application and the consequential denial of exemption were unsustainable.
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