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...
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
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