Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources
Disallowance of loss of trading in commodity exchange - set off of loss - there is no finding by both the lower authorities challenging the genuineness of the commodity trading transactions entered during the year - It is true that it has been disclosed under head income from other source but according to Section 71(1) of the Act assessee is entitled to set off from income under the head Business & profession and income from other sources
Note: It is a system-generated summary and is for quick reference only.
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