Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Decisions taken by the Board of Approval (BoA) for Special Economic Zones (SEZs) in its 119th meeting. Some notable points: - BoA approved conversion of processing areas into non-processing areas for several developers like DLF, Modern Asset, Oxygen Business Park, etc. subject to refund of applicable duties/taxes and submission of undertakings. - For some proposals on conversion to non-processing areas, BoA deferred decisions and requested Department of Revenue (DoR) to provide clarity on principles for determination of duty benefits to be paid. - BoA remanded back some appeals filed by units against orders of Development Commissioners, directing them to provide opportunity of being heard and decide on merits. - BoA approved extension of validity for formal approvals granted to a few developers. - BoA considered proposals for co-developer status, increase in area by co-developers, approval for restricted items, and appeals filed by units against orders withdrawing permissions. - The meeting discussed procedural aspects like refund of duties/taxes, submission of undertakings, and concurrence from DoR for conversion of processing to non-processing areas under SEZ rules.
Decisions taken by the Board of Approval (BoA) for Special Economic Zones (SEZs) in its 119th meeting. Some notable points: - BoA approved conversion of processing areas into non-processing areas for several developers like DLF, Modern Asset, Oxygen Business Park, etc. subject to refund of applicable duties/taxes and submission of undertakings. - For some proposals on conversion to non-processing areas, BoA deferred decisions and requested Department of Revenue (DoR) to provide clarity on principles for determination of duty benefits to be paid. - BoA remanded back some appeals filed by units against orders of Development Commissioners, directing them to provide opportunity of being heard and decide on merits. - BoA approved extension of validity for formal approvals granted to a few developers. - BoA considered proposals for co-developer status, increase in area by co-developers, approval for restricted items, and appeals filed by units against orders withdrawing permissions. - The meeting discussed procedural aspects like refund of duties/taxes, submission of undertakings, and concurrence from DoR for conversion of processing to non-processing areas under SEZ rules.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
