Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Related-party customs valuation requires objectively founded reasonable doubt before rejecting the declared transaction value. Non-disclosure of an exporter's Suggested List Price, without evidence that the discount was abnormal, artificial or relationship-driven, does not justify rejection where comparable export-country discounts and commercial normality are established. Any reassessment must follow the prescribed valuation methods sequentially; the residual method cannot use the exporter's domestic-market price. Royalty, technical assistance and know-how fees are includible only when they relate to imported goods and are payable as a condition of sale. Payments for Indian manufacturing technology, and discontinued notional management fees, are therefore excluded absent evidence of import-price adjustment.
Related-party customs valuation requires objectively founded reasonable doubt before rejecting the declared transaction value. Non-disclosure of an exporter's Suggested List Price, without evidence that the discount was abnormal, artificial or relationship-driven, does not justify rejection where comparable export-country discounts and commercial normality are established. Any reassessment must follow the prescribed valuation methods sequentially; the residual method cannot use the exporter's domestic-market price. Royalty, technical assistance and know-how fees are includible only when they relate to imported goods and are payable as a condition of sale. Payments for Indian manufacturing technology, and discontinued notional management fees, are therefore excluded absent evidence of import-price adjustment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
