Split air conditioner classification depends on capacity and refrigeration characteristics, with the specific tariff entry overriding the general desc...
Anti-circumvention measures require provisional assessment and guarantees for Malaysian-exported rock breakers, specified components and alloy steel t...
Audit-based GST fraud demands require evidence of deliberate wrongdoing, with fresh determination and limitation affecting recovery across different y...
Non-woven fabric bag classification follows the textile intermediate, while GST proceedings require reasons, impartial notices and consistent treatmen...
Rule 3(7)(i) of the Income Tax Rules, 1962 values bank employees' interest-free or concessional loan perquisites by reference to SBI's prime lending rate. The rule falls within the permissible delegation under Section 17(2)(viii). Using the rate as a uniform valuation benchmark is neither arbitrary nor unequal under Article 14 of the Constitution, and the rule is constitutionally valid.
Rule 3(7)(i) of the Income Tax Rules, 1962 values bank employees' interest-free or concessional loan perquisites by reference to SBI's prime lending rate. The rule falls within the permissible delegation under Section 17(2)(viii). Using the rate as a uniform valuation benchmark is neither arbitrary nor unequal under Article 14 of the Constitution, and the rule is constitutionally valid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Get Daily Updates 
