Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Classification of railway-specific printed forms turns on their character as products of the printing industry under Chapter 49 rather than paper stationery under Chapter 48. Central excise liability also depends on marketability: forms bearing departmental particulars and usable only for internal railway purposes are not marketable unless the Revenue proves that they can be bought and sold for consideration. Earlier Tribunal decisions on identical goods applied this marketability test and treated the absence of such proof as defeating excise duty, consequential interest, and penalty.
Classification of railway-specific printed forms turns on their character as products of the printing industry under Chapter 49 rather than paper stationery under Chapter 48. Central excise liability also depends on marketability: forms bearing departmental particulars and usable only for internal railway purposes are not marketable unless the Revenue proves that they can be bought and sold for consideration. Earlier Tribunal decisions on identical goods applied this marketability test and treated the absence of such proof as defeating excise duty, consequential interest, and penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
