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...
Discretionary trust liable to pay tax at maximum marginal rate, including highest slab rate of income tax and surcharge applicable to individuals. Section 2(29C) mandates computing maximum marginal rate by considering highest tax rate and surcharge rate for individuals. Surcharge cannot be based on trust's slab rate; it defeats the purpose of discouraging discretionary trusts. Central Processing Centre has power u/s 143(1) to compute correct tax and surcharge amount payable by assessee. Assessee's appeal dismissed, upholding CIT(A)'s order that maximum marginal rate is correctly computed using highest individual tax and surcharge rates.
Discretionary trust liable to pay tax at maximum marginal rate, including highest slab rate of income tax and surcharge applicable to individuals. Section 2(29C) mandates computing maximum marginal rate by considering highest tax rate and surcharge rate for individuals. Surcharge cannot be based on trust's slab rate; it defeats the purpose of discouraging discretionary trusts. Central Processing Centre has power u/s 143(1) to compute correct tax and surcharge amount payable by assessee. Assessee's appeal dismissed, upholding CIT(A)'s order that maximum marginal rate is correctly computed using highest individual tax and surcharge rates.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
