Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The ITAT Kolkata addressed the disallowance of contribution to LIC Group Gratuity Scheme u/s. 36(1)(v) and the alternative claim u/s. 37(1). The Tribunal noted the delay in approval of the gratuity fund application by the assessee, despite fulfilling requirements since 2002. The approval was eventually granted in 2023, with retrospective effect. The Tribunal considered Rule 5 of Part C of the 4th Schedule, treating gratuity fund as salary for the employee, and applied the principle of reasonable construction to allow the deduction u/s. 37(1) based on prior approvals and compliance efforts. The Tribunal allowed the assessee's claim, emphasizing adherence to statutory provisions and past approvals.
The ITAT Kolkata addressed the disallowance of contribution to LIC Group Gratuity Scheme u/s. 36(1)(v) and the alternative claim u/s. 37(1). The Tribunal noted the delay in approval of the gratuity fund application by the assessee, despite fulfilling requirements since 2002. The approval was eventually granted in 2023, with retrospective effect. The Tribunal considered Rule 5 of Part C of the 4th Schedule, treating gratuity fund as salary for the employee, and applied the principle of reasonable construction to allow the deduction u/s. 37(1) based on prior approvals and compliance efforts. The Tribunal allowed the assessee's claim, emphasizing adherence to statutory provisions and past approvals.
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