Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Declared customs transaction value may be rejected only on cogent evidence of extra consideration or reliable contemporaneous imports of comparable goods at higher prices. The notes state that unsupported statements, uncertified electronic records, and uniform loading without consignment-specific comparability do not establish undervaluation. Where final assessments were made and no fraud, collusion, wilful misstatement, or suppression with intent to evade duty is proved, the extended demand period is unavailable. If the valuation-based demand fails, consequential duty, confiscation, interest, and penalty cannot stand; seized currency lacking a proven nexus must be released, and investigation deposits must be refunded with applicable interest.
Declared customs transaction value may be rejected only on cogent evidence of extra consideration or reliable contemporaneous imports of comparable goods at higher prices. The notes state that unsupported statements, uncertified electronic records, and uniform loading without consignment-specific comparability do not establish undervaluation. Where final assessments were made and no fraud, collusion, wilful misstatement, or suppression with intent to evade duty is proved, the extended demand period is unavailable. If the valuation-based demand fails, consequential duty, confiscation, interest, and penalty cannot stand; seized currency lacking a proven nexus must be released, and investigation deposits must be refunded with applicable interest.
Note: It is a system-generated summary and is for quick reference only.
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