Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Classification of imported Poly Crystalline Silicon (C-Si) and Solar Photovoltaic Modules (Solar Modules) under the Customs Tariff Act. The key points are: The burden of proving classification lies with the revenue authorities. The test report from IIT Kanpur, relied upon by the authorities, was inconclusive and could not determine if the solar modules had bypass diodes, a crucial factor for classification. The authorities failed to substantiate their stand of classifying the imported solar modules under CTH 8501, while the appellant provided evidence supporting classification under CTH 8541. The department cannot take a contradictory stand without evidence, especially when it goes against the CBIC's clarification, which is binding. The demand u/s 28 cannot be confirmed in the absence of finalized assessment. The Appellate Tribunal ruled that the Solar Panels imported by the appellant merit classification under CTH 8541, setting aside the impugned orders and allowing the appeal.
Classification of imported Poly Crystalline Silicon (C-Si) and Solar Photovoltaic Modules (Solar Modules) under the Customs Tariff Act. The key points are: The burden of proving classification lies with the revenue authorities. The test report from IIT Kanpur, relied upon by the authorities, was inconclusive and could not determine if the solar modules had bypass diodes, a crucial factor for classification. The authorities failed to substantiate their stand of classifying the imported solar modules under CTH 8501, while the appellant provided evidence supporting classification under CTH 8541. The department cannot take a contradictory stand without evidence, especially when it goes against the CBIC's clarification, which is binding. The demand u/s 28 cannot be confirmed in the absence of finalized assessment. The Appellate Tribunal ruled that the Solar Panels imported by the appellant merit classification under CTH 8541, setting aside the impugned orders and allowing the appeal.
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