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...
Capital goods intended for use in a warehouse authorised to undertake manufacture or other operations may remain warehoused until clearance under the amended customs framework. Interest on warehoused goods is confined to residuary goods and does not apply to capital goods falling within the specified category. Intended use is determined when the goods are imported and warehoused; actual subsequent use is not required. Solar modules intended for a solar power project retained their character as capital goods despite becoming surplus because of later design and layout changes. A circular concerning clearance for non-manufacturing purposes cannot impose interest where the statute does not provide for it.
Capital goods intended for use in a warehouse authorised to undertake manufacture or other operations may remain warehoused until clearance under the amended customs framework. Interest on warehoused goods is confined to residuary goods and does not apply to capital goods falling within the specified category. Intended use is determined when the goods are imported and warehoused; actual subsequent use is not required. Solar modules intended for a solar power project retained their character as capital goods despite becoming surplus because of later design and layout changes. A circular concerning clearance for non-manufacturing purposes cannot impose interest where the statute does not provide for it.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
