Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Support for Alternative Trade Instruments under EPM now identifies exporters by Importer Exporter Code (IEC), abolishing declarations of intent and Unique Identification Numbers; existing UINs cease to operate. Support covers advance, revolving, and bullet-interest export factoring, with factors required to upload transaction data under modality-specific triggers. Factors must upload data within one month, while exporters must confirm eligible records and file monthly consolidated claims within two months of upload. Export eligibility depends on the Export General Manifest filing date. Eligible MSME exporters may access both factoring support and interest subvention, but cannot claim the same invoice or interest cost under both interventions; duplicate or excess claims attract recovery with interest and penalties.
Support for Alternative Trade Instruments under EPM now identifies exporters by Importer Exporter Code (IEC), abolishing declarations of intent and Unique Identification Numbers; existing UINs cease to operate. Support covers advance, revolving, and bullet-interest export factoring, with factors required to upload transaction data under modality-specific triggers. Factors must upload data within one month, while exporters must confirm eligible records and file monthly consolidated claims within two months of upload. Export eligibility depends on the Export General Manifest filing date. Eligible MSME exporters may access both factoring support and interest subvention, but cannot claim the same invoice or interest cost under both interventions; duplicate or excess claims attract recovery with interest and penalties.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
