Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
Actual-user customs exemption conditions permit turnkey project transfers when imported windmill components are exclusively used for installation and ...
Rule 68B's amended recovery period applies only where the original limitation period remained alive when the amendment took effect; recovery for 2007-08 and 2008-09 was therefore barred, while proceedings for 2009-10 to 2011-12 remained timely. Service on the defaulting firm sufficed for sale of its assets, particularly where partners received copies and participated; individual notice is required where recovery targets a partner's personal assets. Auction valuation was not defective because sale prices exceeded guideline and partner-declared market values, and revised reserve prices alone showed no undervaluation. Third-party funding of demand drafts did not invalidate compliant auction payments. The recovery auction was confirmed and the sale certificate was to issue to the purchaser.
Rule 68B's amended recovery period applies only where the original limitation period remained alive when the amendment took effect; recovery for 2007-08 and 2008-09 was therefore barred, while proceedings for 2009-10 to 2011-12 remained timely. Service on the defaulting firm sufficed for sale of its assets, particularly where partners received copies and participated; individual notice is required where recovery targets a partner's personal assets. Auction valuation was not defective because sale prices exceeded guideline and partner-declared market values, and revised reserve prices alone showed no undervaluation. Third-party funding of demand drafts did not invalidate compliant auction payments. The recovery auction was confirmed and the sale certificate was to issue to the purchaser.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
