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 GoI's CBIC issued Instruction No. 11/2025-Customs implementing port restrictions on specific imports from Bangladesh. The directive restricts imports of ready-made garments, processed food items, cotton waste, plastic goods, and wooden furniture through certain land ports. Ready-made garments are exclusively permitted through Nhava Sheva and Kolkata seaports. Imports from Bangladesh are prohibited through land checkpoints in Assam, Meghalaya, Tripura, Mizoram, and specific West Bengal locations. Exceptions include fish, LPG, edible oil, crushed stone, and exports transiting to Nepal/Bhutan. The restrictions take immediate effect under the Foreign Trade Policy, modifying the ITC (HS) 2022 Schedule 1 Import Policy.
The GoI's CBIC issued Instruction No. 11/2025-Customs implementing port restrictions on specific imports from Bangladesh. The directive restricts imports of ready-made garments, processed food items, cotton waste, plastic goods, and wooden furniture through certain land ports. Ready-made garments are exclusively permitted through Nhava Sheva and Kolkata seaports. Imports from Bangladesh are prohibited through land checkpoints in Assam, Meghalaya, Tripura, Mizoram, and specific West Bengal locations. Exceptions include fish, LPG, edible oil, crushed stone, and exports transiting to Nepal/Bhutan. The restrictions take immediate effect under the Foreign Trade Policy, modifying the ITC (HS) 2022 Schedule 1 Import Policy.
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