Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Para 4.63 of the Foreign Trade Policy 2023 is amended with immediate effect to remove the reference to exemption from Compensation Cess on imports under Diamond Imprest Authorisation. The amendment reflects discontinuation of Compensation Cess from 1 February 2026. Imports under Diamond Imprest Authorisation continue to be exempt from Basic Customs Duty, additional customs duties, Education Cess, anti-dumping duty, countervailing duty, safeguard duties where applicable, and the whole of Integrated Tax levied under the Customs Tariff Act.
Para 4.63 of the Foreign Trade Policy 2023 is amended with immediate effect to remove the reference to exemption from Compensation Cess on imports under Diamond Imprest Authorisation. The amendment reflects discontinuation of Compensation Cess from 1 February 2026. Imports under Diamond Imprest Authorisation continue to be exempt from Basic Customs Duty, additional customs duties, Education Cess, anti-dumping duty, countervailing duty, safeguard duties where applicable, and the whole of Integrated Tax levied under the Customs Tariff Act.
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