Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Rejected damaged paddy is classified under HSN 1006 10 90, not 1006 10 10, as it lacks characteristics of seed quality cereal crop and is unfit for human consumption. The exemption under S.No.70 of N/N. 02/2017-Central Tax (Rate) for rice (other than pre-packaged and labelled) is inapplicable as rejected damaged paddy has lost its food quality and human consumption value, being used for industrial usage or cattle feed. It fails to meet the criteria of being fit for human consumption required for the exemption. Therefore, rejected damaged paddy is taxable and does not qualify for the exemption.
Rejected damaged paddy is classified under HSN 1006 10 90, not 1006 10 10, as it lacks characteristics of seed quality cereal crop and is unfit for human consumption. The exemption under S.No.70 of N/N. 02/2017-Central Tax (Rate) for rice (other than pre-packaged and labelled) is inapplicable as rejected damaged paddy has lost its food quality and human consumption value, being used for industrial usage or cattle feed. It fails to meet the criteria of being fit for human consumption required for the exemption. Therefore, rejected damaged paddy is taxable and does not qualify for the exemption.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
