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...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
The Central Government, u/s 10(46) of the Income-tax Act, 1961, has exempted the Kerala Co-operative Deposit Guarantee Fund Board from specified income tax. The Board must receive contributions from the Government of Kerala and defined societies, and interest on bank deposits. Conditions include no commercial activities, unchanged income nature, and filing returns as per section 139(4C). The exemption applies for assessment years 2019-2024, relevant to financial years 2018-2023. The notification ensures no adverse impact on any individual due to retrospective effect.
The Central Government, u/s 10(46) of the Income-tax Act, 1961, has exempted the Kerala Co-operative Deposit Guarantee Fund Board from specified income tax. The Board must receive contributions from the Government of Kerala and defined societies, and interest on bank deposits. Conditions include no commercial activities, unchanged income nature, and filing returns as per section 139(4C). The exemption applies for assessment years 2019-2024, relevant to financial years 2018-2023. The notification ensures no adverse impact on any individual due to retrospective effect.
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