Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Transfer-pricing tolerance for software sub-licensing falls within the services range, eliminating the adjustment and requiring TDS-credit verificatio...
Customs Broker due diligence requires prescribed KYC, not detecting misdeclarations discoverable only through physical examination, defeating licence ...
E-filing system failure permits exclusion of affected time in insolvency appeals, preventing tribunal technology defects from defeating timely filings...
End-use based customs duty concession for imported lithium-ion cells applies only where the specified manufacture results in a new product with a distinct nature, character, use or name. Cells damaged, rejected or scrapped during battery or battery-pack assembly or testing, and subsequently sold as scrap, do not satisfy that end-use. In the absence of a separate allowance for process loss or wastage, they are treated as unutilised or defective goods under the IGCR Rules. The concession must therefore be reversed through payment of the differential duty otherwise payable at import, with applicable interest. Duty is calculated on the quantity and value assessed at import, without regard to the scrap sale value.
End-use based customs duty concession for imported lithium-ion cells applies only where the specified manufacture results in a new product with a distinct nature, character, use or name. Cells damaged, rejected or scrapped during battery or battery-pack assembly or testing, and subsequently sold as scrap, do not satisfy that end-use. In the absence of a separate allowance for process loss or wastage, they are treated as unutilised or defective goods under the IGCR Rules. The concession must therefore be reversed through payment of the differential duty otherwise payable at import, with applicable interest. Duty is calculated on the quantity and value assessed at import, without regard to the scrap sale value.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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