Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
The period for filing a return after a best judgment assessment was treated as directory, not mandatory. Once a belated return is filed, the provisional assessment made for non-filing does not survive and the matter must proceed in the regular course for further assessment for the year. On that basis, the impugned best judgment assessment order was quashed and the respondent was directed to complete further assessment in accordance with law.
The period for filing a return after a best judgment assessment was treated as directory, not mandatory. Once a belated return is filed, the provisional assessment made for non-filing does not survive and the matter must proceed in the regular course for further assessment for the year. On that basis, the impugned best judgment assessment order was quashed and the respondent was directed to complete further assessment in accordance with law.
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