Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
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Article 289(1) immunises the property and income of a State from Union taxation, overriding an inconsistent charge under the Income-tax Act. A State-controlled conservation society, governed and staffed by State functionaries, financially and functionally dependent on the State, and discharging environmental conservation obligations linked to Article 48A, falls within State instrumentality principles. Statutory, ring-fenced conservation funds and incidental interest constitute public funds held in trust rather than ordinary commercial receipts. Such income cannot be charged to tax, and tax-recovery action lacks jurisdiction. Bank-account attachment for recovery under the Income-tax Act was therefore unsustainable and quashed.
Article 289(1) immunises the property and income of a State from Union taxation, overriding an inconsistent charge under the Income-tax Act. A State-controlled conservation society, governed and staffed by State functionaries, financially and functionally dependent on the State, and discharging environmental conservation obligations linked to Article 48A, falls within State instrumentality principles. Statutory, ring-fenced conservation funds and incidental interest constitute public funds held in trust rather than ordinary commercial receipts. Such income cannot be charged to tax, and tax-recovery action lacks jurisdiction. Bank-account attachment for recovery under the Income-tax Act was therefore unsustainable and quashed.
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