Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
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Interest on delayed statutory payments is treated according to the nature of the underlying liability. Interest on delayed sales tax, VAT, entry tax, service tax and employer's provident fund contributions is compensatory and allowable as business expenditure, while interest on delayed TDS and employees' provident fund contributions is not deductible because those payments do not constitute the assessee's business expenditure. Verification is required to prevent double disallowance where interest has already been included in another disallowed amount. For exempt-income disallowance, expenditure may be disallowed only in relation to investments yielding exempt income; if no exempt income was earned, the additional disallowance does not survive, subject to verification.
Interest on delayed statutory payments is treated according to the nature of the underlying liability. Interest on delayed sales tax, VAT, entry tax, service tax and employer's provident fund contributions is compensatory and allowable as business expenditure, while interest on delayed TDS and employees' provident fund contributions is not deductible because those payments do not constitute the assessee's business expenditure. Verification is required to prevent double disallowance where interest has already been included in another disallowed amount. For exempt-income disallowance, expenditure may be disallowed only in relation to investments yielding exempt income; if no exempt income was earned, the additional disallowance does not survive, subject to verification.
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