Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
AAR ruled PVC raincoats must be classified under HSN Code 3926 20 (plastic articles) rather than HSN 6201 (textile garments). Despite functioning as apparel, PVC raincoats are primarily composed of polyvinyl chloride, not textile fabric. PVC sheets cannot be considered woven fabric or textile material in common trade practice. Following the principle of generalia specialibus non derogant, the specific composition of the item prevails over its general use as apparel. The ruling confirmed PVC raincoats attract 18% GST under Schedule-III Entry 111 of relevant GST notifications, regardless of price point. The classification is based on material composition rather than utility.
AAR ruled PVC raincoats must be classified under HSN Code 3926 20 (plastic articles) rather than HSN 6201 (textile garments). Despite functioning as apparel, PVC raincoats are primarily composed of polyvinyl chloride, not textile fabric. PVC sheets cannot be considered woven fabric or textile material in common trade practice. Following the principle of generalia specialibus non derogant, the specific composition of the item prevails over its general use as apparel. The ruling confirmed PVC raincoats attract 18% GST under Schedule-III Entry 111 of relevant GST notifications, regardless of price point. The classification is based on material composition rather than utility.
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