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...
Obsolete inventory written off in accordance with accounting standards and audited financial statements should be allowed as deduction. Coordinate Bench in BG Exploration case held disallowance unsustainable when obsolete inventory prepared as per accounting standards and audited. Jaipur Bench in Gillette case allowed deduction for written off obsolete inventory with ledger codes and details. Legal principle upheld that obsolete stock written off as per audited accounts and accounting standards is deductible expense.
Obsolete inventory written off in accordance with accounting standards and audited financial statements should be allowed as deduction. Coordinate Bench in BG Exploration case held disallowance unsustainable when obsolete inventory prepared as per accounting standards and audited. Jaipur Bench in Gillette case allowed deduction for written off obsolete inventory with ledger codes and details. Legal principle upheld that obsolete stock written off as per audited accounts and accounting standards is deductible expense.
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