Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
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The Ministry of Finance (CBDT), u/s 10(46) of the Income-tax Act, 1961, has issued Notification No. 43/2024, granting exemption to the 'Tamil Nadu Water Supply and Drainage Board, Chennai' from specified income. The Board, constituted u/s the Tamil Nadu Water Supply and Drainage Board Act, 1970, is exempted from income including water charges, centage charges, project report preparation charges, and interest on bank deposits. The exemption is subject to conditions such as non-engagement in commercial activities, maintaining unchanged activities and income nature, and filing income tax returns as per u/s 139(4C). The notification is effective for assessment years 2024-2029, relevant to financial years 2023-2028.
The Ministry of Finance (CBDT), u/s 10(46) of the Income-tax Act, 1961, has issued Notification No. 43/2024, granting exemption to the 'Tamil Nadu Water Supply and Drainage Board, Chennai' from specified income. The Board, constituted u/s the Tamil Nadu Water Supply and Drainage Board Act, 1970, is exempted from income including water charges, centage charges, project report preparation charges, and interest on bank deposits. The exemption is subject to conditions such as non-engagement in commercial activities, maintaining unchanged activities and income nature, and filing income tax returns as per u/s 139(4C). The notification is effective for assessment years 2024-2029, relevant to financial years 2023-2028.
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