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...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
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Section 37A seizure of equivalent domestic assets was upheld where foreign proceedings and control of overseas entities gave reason to believe that foreign exchange derived from those entities remained held abroad in contravention of FEMA. Confirmation of seizure operates as an interim protective measure pending adjudication, particularly where no repatriation or disclosure of the foreign exchange is shown. Applying Section 37A to foreign exchange acquired after its commencement and continuing to be held abroad does not constitute retrospective application. Foreign employment permits alone do not establish non-resident status without evidence of year-wise Indian stay or an intention to remain abroad indefinitely; an administratrix's personal residential status does not determine the Estate's alleged foreign holding.
Section 37A seizure of equivalent domestic assets was upheld where foreign proceedings and control of overseas entities gave reason to believe that foreign exchange derived from those entities remained held abroad in contravention of FEMA. Confirmation of seizure operates as an interim protective measure pending adjudication, particularly where no repatriation or disclosure of the foreign exchange is shown. Applying Section 37A to foreign exchange acquired after its commencement and continuing to be held abroad does not constitute retrospective application. Foreign employment permits alone do not establish non-resident status without evidence of year-wise Indian stay or an intention to remain abroad indefinitely; an administratrix's personal residential status does not determine the Estate's alleged foreign holding.
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