Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
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Government grants earmarked for specified purposes and subject to utilisation restrictions do not constitute the recipient's income; accordingly, an unspent micro-irrigation scheme grant was not taxable. Interest payable on unutilised grant under applicable Government resolutions was treated as an allowable liability. Under the block-of-assets principle, depreciation remains available where business assets form part of a used block, even if individual assets have been retired from active use; simultaneous use of every asset is unnecessary. The related depreciation disallowance was deleted, and the capital-gains issue was treated as academic.
Government grants earmarked for specified purposes and subject to utilisation restrictions do not constitute the recipient's income; accordingly, an unspent micro-irrigation scheme grant was not taxable. Interest payable on unutilised grant under applicable Government resolutions was treated as an allowable liability. Under the block-of-assets principle, depreciation remains available where business assets form part of a used block, even if individual assets have been retired from active use; simultaneous use of every asset is unnecessary. The related depreciation disallowance was deleted, and the capital-gains issue was treated as academic.
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