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...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Domestic companies with turnover below the prescribed threshold are subject to the 25% corporate tax rate fixed by the Finance Act applicable to the relevant assessment year. An incorrect reference to section 115BA in the return does not justify applying the higher 30% rate where the company otherwise qualifies for the concessional rate. The applicable statutory rate must be applied to returned income, and the benefit is not denied solely because a revised return was not filed.
Domestic companies with turnover below the prescribed threshold are subject to the 25% corporate tax rate fixed by the Finance Act applicable to the relevant assessment year. An incorrect reference to section 115BA in the return does not justify applying the higher 30% rate where the company otherwise qualifies for the concessional rate. The applicable statutory rate must be applied to returned income, and the benefit is not denied solely because a revised return was not filed.
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