Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The Central Government exercised powers under section 25(1) of the Customs Act, 1962 to amend Notification No. 27/2011-Customs dated March 1, 2011. The amendment substitutes the export duty entry for onions (HS 0703 10) from 20% to "nil" in the TABLE against S. No. 1, column (4). This effectively removes the export duty previously imposed on onions. The notification will take effect from April 1, 2025. The amendment was deemed necessary in the public interest and was issued under the authority of the Ministry of Finance (Department of Revenue).
The Central Government exercised powers under section 25(1) of the Customs Act, 1962 to amend Notification No. 27/2011-Customs dated March 1, 2011. The amendment substitutes the export duty entry for onions (HS 0703 10) from 20% to "nil" in the TABLE against S. No. 1, column (4). This effectively removes the export duty previously imposed on onions. The notification will take effect from April 1, 2025. The amendment was deemed necessary in the public interest and was issued under the authority of the Ministry of Finance (Department of Revenue).
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