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...
Rights to receive annuity under a BOT road concession are treated as mechanisms for recouping project costs, comparable to toll-collection rights, rather than distinct intangible assets. The notes state that the broader contractual obligations, exclusive licence and annuity-based compensation do not create a licence, franchise or similar business or commercial right eligible for depreciation; depreciation on the annuity right was therefore disallowed. Capitalised road-project expenditure may, however, be amortised when a Provisional Completion Certificate deems the project complete and open to traffic under the concession agreement and applicable CBDT circular. Accordingly, amortisation was sustained despite the disallowance of depreciation.
Rights to receive annuity under a BOT road concession are treated as mechanisms for recouping project costs, comparable to toll-collection rights, rather than distinct intangible assets. The notes state that the broader contractual obligations, exclusive licence and annuity-based compensation do not create a licence, franchise or similar business or commercial right eligible for depreciation; depreciation on the annuity right was therefore disallowed. Capitalised road-project expenditure may, however, be amortised when a Provisional Completion Certificate deems the project complete and open to traffic under the concession agreement and applicable CBDT circular. Accordingly, amortisation was sustained despite the disallowance of depreciation.
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