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. 130/2010-Customs through Notification No. 32/2025-Customs dated June 30, 2025. The amendment adds serial number 48 to the existing table, designating Canada as a specified country and Air Canada as a designated airline eligible for exemption from additional customs duty on specified imported goods. This modification expands the scope of customs duty exemptions previously available to other designated airlines from specified countries under the principal notification. The amendment became effective July 1, 2025, furthering public interest objectives in international trade facilitation and airline operations.
The Central Government exercised powers under section 25(1) of the Customs Act, 1962 to amend Notification No. 130/2010-Customs through Notification No. 32/2025-Customs dated June 30, 2025. The amendment adds serial number 48 to the existing table, designating Canada as a specified country and Air Canada as a designated airline eligible for exemption from additional customs duty on specified imported goods. This modification expands the scope of customs duty exemptions previously available to other designated airlines from specified countries under the principal notification. The amendment became effective July 1, 2025, furthering public interest objectives in international trade facilitation and airline operations.
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