Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Exemption u/s 14A read with Rule 8D - disallowance of expenditure attributable to exempt income from partnership firm profits - correctly invoked by AO after recording dissatisfaction, as per Supreme Court ruling in Maxopp Investment Ltd. AO's computation u/r 8D(2) based on assessee's accounts is consonant with IT (14th Amendment) Rules, 2016, applicable from 02.06.2016 for AY 2017-18. CIT(A) erred in deleting disallowance. MAT adjustment u/s 115JB for disallowance u/s 14A - CIT(A) partly correct in not requiring adjustment in book profit for MAT liability, following ITAT Special Bench decisions in Vireet and Radha Madhav cases.
Exemption u/s 14A read with Rule 8D - disallowance of expenditure attributable to exempt income from partnership firm profits - correctly invoked by AO after recording dissatisfaction, as per Supreme Court ruling in Maxopp Investment Ltd. AO's computation u/r 8D(2) based on assessee's accounts is consonant with IT (14th Amendment) Rules, 2016, applicable from 02.06.2016 for AY 2017-18. CIT(A) erred in deleting disallowance. MAT adjustment u/s 115JB for disallowance u/s 14A - CIT(A) partly correct in not requiring adjustment in book profit for MAT liability, following ITAT Special Bench decisions in Vireet and Radha Madhav cases.
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