Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Classification of JAC OLIVOL BODY OIL - classifiable under HSN 3004 as a medicament Or under HSN 3304 (cosmetic) - The AAAR’s split decision illustrates the complexity of classifying products that straddle the line between medicaments and cosmetics. It highlights the challenges in applying the common parlance test and ingredient test to products with dual purposes. - The absence of a conclusive ruling from the AAAR means that the original ARA ruling stands, leaving room for further legal debate and potential legislative clarification on the matter.
Classification of JAC OLIVOL BODY OIL - classifiable under HSN 3004 as a medicament Or under HSN 3304 (cosmetic) - The AAAR’s split decision illustrates the complexity of classifying products that straddle the line between medicaments and cosmetics. It highlights the challenges in applying the common parlance test and ingredient test to products with dual purposes. - The absence of a conclusive ruling from the AAAR means that the original ARA ruling stands, leaving room for further legal debate and potential legislative clarification on the matter.
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