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 Delhi addressed two key issues. Firstly, on disallowance of provision for leave encashment, the AO rejected the claim as it was not made through a revised return. The Tribunal held that deduction can only be allowed when actual payment is made u/s 43B(f) of the Act, citing a Supreme Court ruling. AO directed to verify actual payment date. Secondly, on taxability of excise duty subsidy, the Tribunal ruled it as capital receipt based on earlier decisions, holding it non-taxable. Additional ground raised by the assessee was allowed.
The ITAT Delhi addressed two key issues. Firstly, on disallowance of provision for leave encashment, the AO rejected the claim as it was not made through a revised return. The Tribunal held that deduction can only be allowed when actual payment is made u/s 43B(f) of the Act, citing a Supreme Court ruling. AO directed to verify actual payment date. Secondly, on taxability of excise duty subsidy, the Tribunal ruled it as capital receipt based on earlier decisions, holding it non-taxable. Additional ground raised by the assessee was allowed.
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