Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Failure to re-export the goods after re-import - Recovery of Drawback - The Appellate Tribunal found that the appellant intended to re-export the goods after repair but could not fulfill this requirement and sold the goods locally instead. Considering similar precedent and a Supreme Court judgment, the Tribunal held that the appellant was indeed eligible for the benefit of Notification No.94/96. However, it was made clear that the appellant must repay the drawback claimed along with interest.
Failure to re-export the goods after re-import - Recovery of Drawback - The Appellate Tribunal found that the appellant intended to re-export the goods after repair but could not fulfill this requirement and sold the goods locally instead. Considering similar precedent and a Supreme Court judgment, the Tribunal held that the appellant was indeed eligible for the benefit of Notification No.94/96. However, it was made clear that the appellant must repay the drawback claimed along with interest.
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