Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Petroleum jelly variants meant for skin care are classifiable under CTH 3304 as cosmetics, not under CTH 2712 as petroleum jelly. Chapter 27 covers petroleum jelly per se without additives. Heading 27.12 specifically excludes petroleum jelly for skin care, indicating its coverage under 33.04. The products in question, being petroleum jelly meant exclusively for skin care, are cosmetics correctly classifiable under CTH 3304. The addition of ingredients does not alter their classification. The impugned order upholding wrong classification is set aside, and the appeal is allowed.
Petroleum jelly variants meant for skin care are classifiable under CTH 3304 as cosmetics, not under CTH 2712 as petroleum jelly. Chapter 27 covers petroleum jelly per se without additives. Heading 27.12 specifically excludes petroleum jelly for skin care, indicating its coverage under 33.04. The products in question, being petroleum jelly meant exclusively for skin care, are cosmetics correctly classifiable under CTH 3304. The addition of ingredients does not alter their classification. The impugned order upholding wrong classification is set aside, and the appeal is allowed.
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