Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
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A bona fide deduction claim under section 80P(2)(a)(i), previously accepted in scrutiny assessment and rectification proceedings, was not treated as under-reported income in the stated circumstances. The notes state that section 270A(1) uses "may", requiring consideration of the full circumstances rather than automatic penalty. They further state that a penalty notice and order referring only generally to section 270A, without specifying the applicable sub-clause or limb, cannot sustain the penalty. The reported conclusion is that the penalty for under-reporting was deleted.
A bona fide deduction claim under section 80P(2)(a)(i), previously accepted in scrutiny assessment and rectification proceedings, was not treated as under-reported income in the stated circumstances. The notes state that section 270A(1) uses "may", requiring consideration of the full circumstances rather than automatic penalty. They further state that a penalty notice and order referring only generally to section 270A, without specifying the applicable sub-clause or limb, cannot sustain the penalty. The reported conclusion is that the penalty for under-reporting was deleted.
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