Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
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ITAT adjudicated compensation received for wind turbine generator (WTG) under-performance as capital receipt, not taxable. Relying on precedents in PCIT vs Xpro India Ltd. and Ramkrishna Forgings Limited, the tribunal determined the compensation from equipment supplier for technical performance shortfall constitutes a capital receipt. The Revenue's prior acceptance of similar claims in subsequent assessment year further substantiated the ruling. Tribunal directed assessment officer to exclude compensation amount from assessable income, effectively allowing the assessee's appeal and confirming the non-taxable nature of the compensation.
ITAT adjudicated compensation received for wind turbine generator (WTG) under-performance as capital receipt, not taxable. Relying on precedents in PCIT vs Xpro India Ltd. and Ramkrishna Forgings Limited, the tribunal determined the compensation from equipment supplier for technical performance shortfall constitutes a capital receipt. The Revenue's prior acceptance of similar claims in subsequent assessment year further substantiated the ruling. Tribunal directed assessment officer to exclude compensation amount from assessable income, effectively allowing the assessee's appeal and confirming the non-taxable nature of the compensation.
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