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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The import policy under Chapter 71 of ITC (HS) 2022 has been amended to extend the restriction on alloys containing more than 1% gold by weight. Previously, only iridium alloys with gold content exceeding 1% were restricted; the amendment now includes osmium and ruthenium alloys with similar gold content restrictions. This modification supersedes the earlier CBIC Instruction No. 17/2025-Cus. and is effective immediately. Customs authorities are directed to enforce the revised policy and ensure compliance. Any implementation difficulties should be reported to the Board.
The import policy under Chapter 71 of ITC (HS) 2022 has been amended to extend the restriction on alloys containing more than 1% gold by weight. Previously, only iridium alloys with gold content exceeding 1% were restricted; the amendment now includes osmium and ruthenium alloys with similar gold content restrictions. This modification supersedes the earlier CBIC Instruction No. 17/2025-Cus. and is effective immediately. Customs authorities are directed to enforce the revised policy and ensure compliance. Any implementation difficulties should be reported to the Board.
Note: It is a system-generated summary and is for quick reference only.
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