Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Approval of a resolution plan settling confirmed government dues causes the corporate debtor's pending excise appeal to abate. Excise duty remains payable by persons who clear processed fabrics, even where they are not manufacturers, because liability attaches on clearance; however, the transferee's specific penalty concerning stock was not sustained. Pre-clearance grading, cartage, brokerage and stock-interest expenses form part of assessable value where goods enter wholesale trade only on sale to independent buyers, sustaining the related duty and interest. Penalty for intent to evade duty requires findings of prescribed conduct and cannot rest solely on inadmissible valuation deductions. Penalties relating to confiscable goods likewise require their statutory basis; general penalties may instead apply to proven participation in duty evasion.
Approval of a resolution plan settling confirmed government dues causes the corporate debtor's pending excise appeal to abate. Excise duty remains payable by persons who clear processed fabrics, even where they are not manufacturers, because liability attaches on clearance; however, the transferee's specific penalty concerning stock was not sustained. Pre-clearance grading, cartage, brokerage and stock-interest expenses form part of assessable value where goods enter wholesale trade only on sale to independent buyers, sustaining the related duty and interest. Penalty for intent to evade duty requires findings of prescribed conduct and cannot rest solely on inadmissible valuation deductions. Penalties relating to confiscable goods likewise require their statutory basis; general penalties may instead apply to proven participation in duty evasion.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
