Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Classification of imported goods - consignment of gold pendants weighing 5 kgs - Since, the goods imported by the petitioner are classifiable under Exim code 711319, the amendment made to the policy condition from ‘free’ to ‘restricted’ would not be applicable. If the import of goods is not ‘restricted’ and is permitted as ‘free’, the subject import cannot be considered as ‘prohibited’ goods liable for confiscation. - HC
Classification of imported goods - consignment of gold pendants weighing 5 kgs - Since, the goods imported by the petitioner are classifiable under Exim code 711319, the amendment made to the policy condition from ‘free’ to ‘restricted’ would not be applicable. If the import of goods is not ‘restricted’ and is permitted as ‘free’, the subject import cannot be considered as ‘prohibited’ goods liable for confiscation. - HC
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