Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
ITAT adjudicated two primary issues: (1) International transaction involving Standby Letter of Credit (SBLC) and (2) Deduction under Section 80G for charitable donation. In the SBLC matter, the Tribunal held that issuance of SBLC to Associated Enterprise can be subject to Arm's Length Price (ALP) tests, directing Assessing Officer to consider 0.5% rate instead of 1.3%. Regarding donation, the Tribunal restored the matter to Assessing Officer, providing opportunity to re-examine the receipt's authenticity and accounting period, with liberty to allow Section 80G deduction if the assessee satisfactorily demonstrates the trust's proper accounting of the donated funds.
ITAT adjudicated two primary issues: (1) International transaction involving Standby Letter of Credit (SBLC) and (2) Deduction under Section 80G for charitable donation. In the SBLC matter, the Tribunal held that issuance of SBLC to Associated Enterprise can be subject to Arm's Length Price (ALP) tests, directing Assessing Officer to consider 0.5% rate instead of 1.3%. Regarding donation, the Tribunal restored the matter to Assessing Officer, providing opportunity to re-examine the receipt's authenticity and accounting period, with liberty to allow Section 80G deduction if the assessee satisfactorily demonstrates the trust's proper accounting of the donated funds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
