Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Cancellation of registration granted u/s 12AB - Assessment of trust - The ITAT held that the PCIT's order to cancel the registration from the financial year 2020-21 and subsequent years under section 12AB(4)(ii) was beyond his jurisdiction, particularly for the assessment year 2021-22, as the provision was not applicable retrospectively. - The Tribunal clarified that the law applicable to an assessment year should be the law in force for that year unless specified otherwise.
Cancellation of registration granted u/s 12AB - Assessment of trust - The ITAT held that the PCIT's order to cancel the registration from the financial year 2020-21 and subsequent years under section 12AB(4)(ii) was beyond his jurisdiction, particularly for the assessment year 2021-22, as the provision was not applicable retrospectively. - The Tribunal clarified that the law applicable to an assessment year should be the law in force for that year unless specified otherwise.
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