Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Brand rate drawback on exported bus bodies was discussed in relation to simultaneous DEPB benefit for chassis components. The notes state that the 1988 circular's average-rate dispensation did not require independent body builders to furnish duty-paid documents, and that the 2003 circular continued this approach after DEPB was introduced. They further state that double reimbursement could not be presumed solely from DEPB availing without material showing reimbursement of the same duty incidence. Recovery proceedings for wrongly granted drawback were treated as distinct from brand-rate revision and subject to Rule 16, requiring initiation within a reasonable time rather than automatic application of customs-duty limitation. The impugned denial and recovery were quashed for covered exports.
Brand rate drawback on exported bus bodies was discussed in relation to simultaneous DEPB benefit for chassis components. The notes state that the 1988 circular's average-rate dispensation did not require independent body builders to furnish duty-paid documents, and that the 2003 circular continued this approach after DEPB was introduced. They further state that double reimbursement could not be presumed solely from DEPB availing without material showing reimbursement of the same duty incidence. Recovery proceedings for wrongly granted drawback were treated as distinct from brand-rate revision and subject to Rule 16, requiring initiation within a reasonable time rather than automatic application of customs-duty limitation. The impugned denial and recovery were quashed for covered exports.
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