Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Additional customs duty exemption for textile materials is confined to goods listed in the First Schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957. Textile headings omitted from that Schedule by the Finance Act, 2011 no longer meet the notification condition, requiring strict construction of the exemption. The text also addresses extended limitation: where assessed ex-bond Bills of Entry disclosed the goods, classification, duties and claimed exemptions, an incorrect exemption claim alone does not establish suppression or deliberate misstatement intended to evade duty. Consequently, demands may be restricted to the normal period, with penalty not sustainable absent the required intent.
Additional customs duty exemption for textile materials is confined to goods listed in the First Schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957. Textile headings omitted from that Schedule by the Finance Act, 2011 no longer meet the notification condition, requiring strict construction of the exemption. The text also addresses extended limitation: where assessed ex-bond Bills of Entry disclosed the goods, classification, duties and claimed exemptions, an incorrect exemption claim alone does not establish suppression or deliberate misstatement intended to evade duty. Consequently, demands may be restricted to the normal period, with penalty not sustainable absent the required intent.
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