Electronic certificates of origin enable preferential tariffs under the India-New Zealand FTA when format, verification, and filing requirements are m...
Customs approval for liquid cargo exports extends designated jetty operations while existing boarding station and customs area limits remain unchanged...
Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
Double taxation of turnover requires holistic verification across separately registered units and permits limited rectification of overlapping assessm...
Bad-debt deduction was available where full invoice amounts had been recognised as income, retained sums remained receivables, and those receivables were written off as irrecoverable; the related disallowance was deleted without requiring proof that the debts became bad in a particular year. Related-party rent could not be disallowed without comparable or other material establishing excessiveness or unreasonableness against fair market value; suspicion or an allegation of non-revenue neutrality was insufficient, and the disallowance was deleted. A challenge confined to initiation of penalty proceedings was premature and was dismissed.
Bad-debt deduction was available where full invoice amounts had been recognised as income, retained sums remained receivables, and those receivables were written off as irrecoverable; the related disallowance was deleted without requiring proof that the debts became bad in a particular year. Related-party rent could not be disallowed without comparable or other material establishing excessiveness or unreasonableness against fair market value; suspicion or an allegation of non-revenue neutrality was insufficient, and the disallowance was deleted. A challenge confined to initiation of penalty proceedings was premature and was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4925 
