Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Appellate Tribunal ruling on rejection of transaction value and re-determination of imported goods' value. Lack of justification for rejecting declared values under Valuation Rules. Inadequate details on Bills of Entry for identical or similar goods used for re-determination. No comparison of features between imported goods and goods whose values were adopted. Re-determination of values, demand for differential duty, confiscation, and penalties set aside for specific goods. Penalty u/s 114AA reduced. Matter remanded for recalculation. Partial allowance of appeal.
Appellate Tribunal ruling on rejection of transaction value and re-determination of imported goods' value. Lack of justification for rejecting declared values under Valuation Rules. Inadequate details on Bills of Entry for identical or similar goods used for re-determination. No comparison of features between imported goods and goods whose values were adopted. Re-determination of values, demand for differential duty, confiscation, and penalties set aside for specific goods. Penalty u/s 114AA reduced. Matter remanded for recalculation. Partial allowance of appeal.
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