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Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
The assessee, a trust governed by the Government of India, was held eligible for exemption u/s 11 of the Act for arranging credit guarantees to small ventures and supporting business/livelihood development. The ITAT allowed the ground taken by the assessee, following its previous order. The provision for guarantee claims created against outstanding guarantees was treated as an allowable expense, being necessary for providing effective credit guarantees to small and medium enterprises without collateral security through eligible banks as per the scheme.
The assessee, a trust governed by the Government of India, was held eligible for exemption u/s 11 of the Act for arranging credit guarantees to small ventures and supporting business/livelihood development. The ITAT allowed the ground taken by the assessee, following its previous order. The provision for guarantee claims created against outstanding guarantees was treated as an allowable expense, being necessary for providing effective credit guarantees to small and medium enterprises without collateral security through eligible banks as per the scheme.
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