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...
Statutory housing board functions directed at housing development and general public utility can retain charitable status despite receipts that resemble commercial activity. Charges collected while discharging statutory public functions do not, merely because of their commercial character, trigger the exclusion for trade, commerce or business under section 2(15) read with section 13(8). The housing board therefore remained eligible for income-tax exemption under sections 11 and 12, and the Revenue's challenge to that exemption failed.
Statutory housing board functions directed at housing development and general public utility can retain charitable status despite receipts that resemble commercial activity. Charges collected while discharging statutory public functions do not, merely because of their commercial character, trigger the exclusion for trade, commerce or business under section 2(15) read with section 13(8). The housing board therefore remained eligible for income-tax exemption under sections 11 and 12, and the Revenue's challenge to that exemption failed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
