Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Paragraph 4.49 of FTP 2023 now permits eligible foreign entities to import rough diamonds into a Special Notified Zone and auction, sell or re-export them on a consignment or outright basis. Eligible entities include foreign diamond-mining companies, their sightholders, and brokers, aggregators, tender entities or auction entities connected with rough-diamond sales, where covered by and subject to conditions applicable under Entry 13F of Schedule IV to the Income-tax Act, 2025. SNZ operations remain administered by the SNZ operator under Customs supervision, and CBIC procedures govern import, auction, sale and re-export of unsold rough diamonds. The amendment takes immediate effect.
Paragraph 4.49 of FTP 2023 now permits eligible foreign entities to import rough diamonds into a Special Notified Zone and auction, sell or re-export them on a consignment or outright basis. Eligible entities include foreign diamond-mining companies, their sightholders, and brokers, aggregators, tender entities or auction entities connected with rough-diamond sales, where covered by and subject to conditions applicable under Entry 13F of Schedule IV to the Income-tax Act, 2025. SNZ operations remain administered by the SNZ operator under Customs supervision, and CBIC procedures govern import, auction, sale and re-export of unsold rough diamonds. The amendment takes immediate effect.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4923 
