Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Circular mandates additional qualifiers for import/export declarations of synthetic or reconstructed diamonds effective 01.12.2024 to improve assessment and facilitate clearance. Importers/exporters must declare method used for producing these diamonds - Chemical Vapour Deposition (LGD001), High Pressure High Temperature (LGD002), or Other (LGD003) under CTHs 71042110, 71042120, 71049110, 71049120. Providing this information enhances assessment quality, avoids queries, and increases trade facilitation. Public notice to guide trade must be issued. Difficulties in implementation to be reported to the Board.
Circular mandates additional qualifiers for import/export declarations of synthetic or reconstructed diamonds effective 01.12.2024 to improve assessment and facilitate clearance. Importers/exporters must declare method used for producing these diamonds - Chemical Vapour Deposition (LGD001), High Pressure High Temperature (LGD002), or Other (LGD003) under CTHs 71042110, 71042120, 71049110, 71049120. Providing this information enhances assessment quality, avoids queries, and increases trade facilitation. Public notice to guide trade must be issued. Difficulties in implementation to be reported to the Board.
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