Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
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...
Related-party customs valuation is addressed through rejection of the declared transaction value where undisclosed funding discounts and dual invoicing created reasonable doubt. The notes state that value should then be redetermined sequentially using deductive-value principles, flexibly applied through residual valuation, with the local list price treated as deemed resale price where contemporaneous sales data is unavailable. Only normal, known and uniformly available discounts may be deducted; warranty costs are not post-import expenses, while customs duty, brokerage and fees are deductible. International freight and insurance cannot be added again. CLCP cannot replace declared MRP for additional-duty assessment. The discussion also confines interest and equivalent penalty to basic customs duty, while denying special additional duty exemption and sustaining extended limitation for nondisclosure.
Related-party customs valuation is addressed through rejection of the declared transaction value where undisclosed funding discounts and dual invoicing created reasonable doubt. The notes state that value should then be redetermined sequentially using deductive-value principles, flexibly applied through residual valuation, with the local list price treated as deemed resale price where contemporaneous sales data is unavailable. Only normal, known and uniformly available discounts may be deducted; warranty costs are not post-import expenses, while customs duty, brokerage and fees are deductible. International freight and insurance cannot be added again. CLCP cannot replace declared MRP for additional-duty assessment. The discussion also confines interest and equivalent penalty to basic customs duty, while denying special additional duty exemption and sustaining extended limitation for nondisclosure.
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