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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...
Bad-debt deduction for share-broking client dues may be claimed where outstanding client balances are treated as irrecoverable and written off in the accounts. Under amended section 36(1)(vii), actual irrecoverability need not be established. Continuing transactions or payments by clients do not preclude the claim where the broker follows a consistent settlement pattern under which clients pay agreed amounts and residual balances are written off. Client receivables qualify as debts when brokerage included in those receivables has been taken into account in computing income. The disallowance of the written-off client dues was deleted and the deduction sustained.
Bad-debt deduction for share-broking client dues may be claimed where outstanding client balances are treated as irrecoverable and written off in the accounts. Under amended section 36(1)(vii), actual irrecoverability need not be established. Continuing transactions or payments by clients do not preclude the claim where the broker follows a consistent settlement pattern under which clients pay agreed amounts and residual balances are written off. Client receivables qualify as debts when brokerage included in those receivables has been taken into account in computing income. The disallowance of the written-off client dues was deleted and the deduction sustained.
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