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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The GoI issued Notification No. 23/2025-Customs amending Notification No. 50/2017-Customs, specifically modifying the duty condition for goods classification. The amendment removes condition no. 9 for importing "All goods other than Interactive Flat Panel Display (IFPD)" under S. No. 515C, replacing the existing entry "9" with "-". The modification was implemented with immediate effect, exercising powers under the Customs Act, 1962 and Customs Tariff Act, 1975, based on a determination of public interest necessity. The notification was issued by the Under Secretary and will impact customs duty treatment for specified goods.
The GoI issued Notification No. 23/2025-Customs amending Notification No. 50/2017-Customs, specifically modifying the duty condition for goods classification. The amendment removes condition no. 9 for importing "All goods other than Interactive Flat Panel Display (IFPD)" under S. No. 515C, replacing the existing entry "9" with "-". The modification was implemented with immediate effect, exercising powers under the Customs Act, 1962 and Customs Tariff Act, 1975, based on a determination of public interest necessity. The notification was issued by the Under Secretary and will impact customs duty treatment for specified goods.
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