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...
Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be allowed as deduction in next assessment year 2016-17. ITAT allowed assessee's claim, holding that income u/s 69B forms part of closing stock and can be claimed as deduction in next year, unlike Section 69C. Regarding deduction u/s 80IA for windmill units, ITAT followed CBDT Circular and its own earlier order treating each windmill as separate undertaking for Section 80IA deduction.
Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be allowed as deduction in next assessment year 2016-17. ITAT allowed assessee's claim, holding that income u/s 69B forms part of closing stock and can be claimed as deduction in next year, unlike Section 69C. Regarding deduction u/s 80IA for windmill units, ITAT followed CBDT Circular and its own earlier order treating each windmill as separate undertaking for Section 80IA deduction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
