Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
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 ...
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The High Court dismissed the appeal and upheld the final assessment order levying export duty on iron ore fines and pellets based on the Dry Metric Tonne (DMT) basis. The Court found no dispute regarding the private test report relied upon by the assessing authority and the first appellate authority. While there were submissions questioning the timing of the test report, the Court accepted the revenue's reliance on the circular dated 17th November 2014, which prescribed the procedure for uniform, transparent, and consistent assessment of export of iron ore fines and pellets. The Court held that the contractual specifications could not be solely relied upon for determining the export duty payable, and the authorities rightly considered the private test report for final assessment.
The High Court dismissed the appeal and upheld the final assessment order levying export duty on iron ore fines and pellets based on the Dry Metric Tonne (DMT) basis. The Court found no dispute regarding the private test report relied upon by the assessing authority and the first appellate authority. While there were submissions questioning the timing of the test report, the Court accepted the revenue's reliance on the circular dated 17th November 2014, which prescribed the procedure for uniform, transparent, and consistent assessment of export of iron ore fines and pellets. The Court held that the contractual specifications could not be solely relied upon for determining the export duty payable, and the authorities rightly considered the private test report for final assessment.
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