Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Imposition of penalty on sales agent of foreign supplier u/s 112(a) and/ or 112(b) of the Customs Act, 1962 - omission/ commission committed by sales agent of foreign supplier or not who has acted on the direction of Principal - He was acting in course of normal business - There is nothing on record to establish that he had abetted in the evasion of duty by mis-declaring the value - No penalty.
Imposition of penalty on sales agent of foreign supplier u/s 112(a) and/ or 112(b) of the Customs Act, 1962 - omission/ commission committed by sales agent of foreign supplier or not who has acted on the direction of Principal - He was acting in course of normal business - There is nothing on record to establish that he had abetted in the evasion of duty by mis-declaring the value - No penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
