Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
Note: It is a system-generated summary and is for quick reference only.
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