Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Foreign exchange fluctuation loss on year-end restatement of an external commercial borrowing used to acquire capital assets remains in the capital field. The notes state that, although the borrowing from the parent company was subsequently converted into equity shares, the loss retained its capital character because the borrowing was obtained for capital assets. Following earlier Tribunal orders in the same taxpayer's case, the loss could not be claimed as business expenditure under the Act. The disallowance was sustained and the appeal was dismissed.
Foreign exchange fluctuation loss on year-end restatement of an external commercial borrowing used to acquire capital assets remains in the capital field. The notes state that, although the borrowing from the parent company was subsequently converted into equity shares, the loss retained its capital character because the borrowing was obtained for capital assets. Following earlier Tribunal orders in the same taxpayer's case, the loss could not be claimed as business expenditure under the Act. The disallowance was sustained and the appeal was dismissed.
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