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...
Disallowance of business loss of discontinued business: Deduction for expenditure incurred towards professional charges, consultancy charges, ESI arrears, and bank charges was disallowed when the assessee's business was discontinued, as there was no likelihood of revival. Expenditure incurred when no business was carried on is not admissible deduction, as per the legal principle that loss or expenditure should be incurred in the course of business. Tax rates on Interest income: As per Article 11 of the DTAA between India and New Zealand, interest income earned by an assessee being a resident of New Zealand may be taxed at a maximum rate of 10%. The assessee, being a resident of New Zealand, is entitled to the benefit of lower tax rate under the DTAA, even though the income was not taxable in New Zealand due to temporary exemption.
Disallowance of business loss of discontinued business: Deduction for expenditure incurred towards professional charges, consultancy charges, ESI arrears, and bank charges was disallowed when the assessee's business was discontinued, as there was no likelihood of revival. Expenditure incurred when no business was carried on is not admissible deduction, as per the legal principle that loss or expenditure should be incurred in the course of business. Tax rates on Interest income: As per Article 11 of the DTAA between India and New Zealand, interest income earned by an assessee being a resident of New Zealand may be taxed at a maximum rate of 10%. The assessee, being a resident of New Zealand, is entitled to the benefit of lower tax rate under the DTAA, even though the income was not taxable in New Zealand due to temporary exemption.
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