Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The Dept of Revenue amended the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 through Notification 07/2025-Customs. Key modifications include extending reporting periods from monthly to quarterly basis and prolonging certain compliance timelines from six months to one year. The amendment introduces definition of "quarter" as three consecutive calendar months ending March, June, September or December. These changes affect various compliance requirements under rules 6, 7, 8, 9, and 10, including submission of statements, reconciliation reports, and maintenance of account records. The amendments take effect from February 2, 2025, aiming to streamline administrative procedures and reduce compliance burden for importers.
The Dept of Revenue amended the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 through Notification 07/2025-Customs. Key modifications include extending reporting periods from monthly to quarterly basis and prolonging certain compliance timelines from six months to one year. The amendment introduces definition of "quarter" as three consecutive calendar months ending March, June, September or December. These changes affect various compliance requirements under rules 6, 7, 8, 9, and 10, including submission of statements, reconciliation reports, and maintenance of account records. The amendments take effect from February 2, 2025, aiming to streamline administrative procedures and reduce compliance burden for importers.
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