Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
The ITAT allowed the disallowance under section 40A(9) regarding payments to an educational society, holding such expenses as statutory obligations under the NCWA and not disallowable employee welfare expenses, following the jurisdictional High Court's precedent. The claim for investment allowance under section 32AC was denied, affirming that power generation activities do not qualify for this benefit. The disallowance under section 40(a)(ia) for TDS on interest deposited in court was deleted, as the assessee was not liable for TDS until actual payment to recipients. Expenses on abandoned coal mine development were held to be revenue in nature and allowable. Depreciation at 15% was upheld, recognizing mine-related infrastructure as plant and machinery.
The ITAT allowed the disallowance under section 40A(9) regarding payments to an educational society, holding such expenses as statutory obligations under the NCWA and not disallowable employee welfare expenses, following the jurisdictional High Court's precedent. The claim for investment allowance under section 32AC was denied, affirming that power generation activities do not qualify for this benefit. The disallowance under section 40(a)(ia) for TDS on interest deposited in court was deleted, as the assessee was not liable for TDS until actual payment to recipients. Expenses on abandoned coal mine development were held to be revenue in nature and allowable. Depreciation at 15% was upheld, recognizing mine-related infrastructure as plant and machinery.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
