Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
A power-generating undertaking may exercise the second proviso to rule 5(1A) option to claim depreciation under rule 5(1) and Appendix I through its return and disclosed computation, as no separate form or prescribed mode is required. A depreciation claim does not constitute furnishing inaccurate particulars where asset details, cost, use, rates and computation are fully disclosed and no primary fact, entry or asset is false or bogus. Voluntary revision before a specific depreciation query may support bona fides, even if made during assessment after the revised-return period. Explanation 1 to section 271(1)(c) does not apply where the taxpayer's explanation is substantiated, bona fide and accompanied by full disclosure of material facts.
A power-generating undertaking may exercise the second proviso to rule 5(1A) option to claim depreciation under rule 5(1) and Appendix I through its return and disclosed computation, as no separate form or prescribed mode is required. A depreciation claim does not constitute furnishing inaccurate particulars where asset details, cost, use, rates and computation are fully disclosed and no primary fact, entry or asset is false or bogus. Voluntary revision before a specific depreciation query may support bona fides, even if made during assessment after the revised-return period. Explanation 1 to section 271(1)(c) does not apply where the taxpayer's explanation is substantiated, bona fide and accompanied by full disclosure of material facts.
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