Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Multiple assessments in the same Bills of Entry - Finalization of provisional assessment - The Tribunal clarified that the Customs Act allows for reassessment before goods are cleared for home consumption under Section 47. Thus, multiple assessments can be made as necessary until final clearance, supporting the customs authority's actions. - Further, the Tribunal found no requirement under the Customs Act for an SCN to be issued in the context of finalizing assessments after provisional assessments are made. It was determined that the written submissions by the importer were adequately considered, hence there was no violation of natural justice.
Multiple assessments in the same Bills of Entry - Finalization of provisional assessment - The Tribunal clarified that the Customs Act allows for reassessment before goods are cleared for home consumption under Section 47. Thus, multiple assessments can be made as necessary until final clearance, supporting the customs authority's actions. - Further, the Tribunal found no requirement under the Customs Act for an SCN to be issued in the context of finalizing assessments after provisional assessments are made. It was determined that the written submissions by the importer were adequately considered, hence there was no violation of natural justice.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
