Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Addition u/s.56(2)(vii)(c) - income from transaction of shares - the offer made by the company was accepted by the shareholders before 1st October, 2009 hence, the contract between the company and the shareholder for issue by the company of shares was completed before 1st October, 2009 - The provisions of section 56(2)(vii) are applicable only from 1st October, 2009.
Addition u/s.56(2)(vii)(c) - income from transaction of shares - the offer made by the company was accepted by the shareholders before 1st October, 2009 hence, the contract between the company and the shareholder for issue by the company of shares was completed before 1st October, 2009 - The provisions of section 56(2)(vii) are applicable only from 1st October, 2009.
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