Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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Tax was deductible at source on annual lease rent paid to development authorities, and the exemption under section 10(20A) did not apply. Interest for delayed deduction was confined to the period from when tax became deductible until the deductee filed its return. Interest expenditure capitalised as work-in-progress and not charged to the profit and loss account could not be disallowed for delayed tax deduction, because disallowance applies only to expenditure claimed in the profit and loss account. Accordingly, the disallowance of capitalised interest was deleted, while the tax-deduction liability on annual lease rent remained.
Tax was deductible at source on annual lease rent paid to development authorities, and the exemption under section 10(20A) did not apply. Interest for delayed deduction was confined to the period from when tax became deductible until the deductee filed its return. Interest expenditure capitalised as work-in-progress and not charged to the profit and loss account could not be disallowed for delayed tax deduction, because disallowance applies only to expenditure claimed in the profit and loss account. Accordingly, the disallowance of capitalised interest was deleted, while the tax-deduction liability on annual lease rent remained.
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