Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Furnace Oil and Light Diesel Oil require separate commodity classification where technical specifications show material differences in physical characteristics, composition, distillation range, viscosity and end-use. Furnace Oil is a heavier residual fuel oil, while Light Diesel Oil is a middle distillate and cannot be substituted in engines designed for lighter fuel. A specific tariff entry for Light Diesel Oil cannot be extended to Furnace Oil merely because both are used as fuel, absent a common entry. Classification of Furnace Oil as Light Diesel Oil for VAT levy was set aside, requiring fresh assessment on the basis that the products are distinct commodities.
Furnace Oil and Light Diesel Oil require separate commodity classification where technical specifications show material differences in physical characteristics, composition, distillation range, viscosity and end-use. Furnace Oil is a heavier residual fuel oil, while Light Diesel Oil is a middle distillate and cannot be substituted in engines designed for lighter fuel. A specific tariff entry for Light Diesel Oil cannot be extended to Furnace Oil merely because both are used as fuel, absent a common entry. Classification of Furnace Oil as Light Diesel Oil for VAT levy was set aside, requiring fresh assessment on the basis that the products are distinct commodities.
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