Residual food-preparation classification places fermented Nata De Coco outside fruit-jelly categories, changing its GST treatment across notified peri...
Settlement application eligibility requires a pending assessment when filed, preventing an extra prior-eligibility condition from blocking considerati...
Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Obsolete telecom-related inventory may be written down to nil under a consistently applied lower-of-cost-or-net-realisable-value method where physical verification, item-wise particulars, audited-account disclosures and business discontinuance support that valuation. Inventory should not be carried above the amount expected from sale or use. A higher assumed scrap or realisable value requires positive evidence, such as an independent valuation, market quotation, comparable sale or identified purchaser; absence of a technical certificate or separate bank communication does not by itself displace a supported valuation. The Revenue bears the burden of proving a higher net realisable value once the valuation basis is reasonably demonstrated.
Obsolete telecom-related inventory may be written down to nil under a consistently applied lower-of-cost-or-net-realisable-value method where physical verification, item-wise particulars, audited-account disclosures and business discontinuance support that valuation. Inventory should not be carried above the amount expected from sale or use. A higher assumed scrap or realisable value requires positive evidence, such as an independent valuation, market quotation, comparable sale or identified purchaser; absence of a technical certificate or separate bank communication does not by itself displace a supported valuation. The Revenue bears the burden of proving a higher net realisable value once the valuation basis is reasonably demonstrated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
