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 government clarified that organic textiles are not subject to the accreditation requirements under the National Programme for Organic Production, and therefore, exporters are no longer required to submit a Transaction Certificate from NAB-accredited bodies at the time of export. Certification for organic textiles is recognized under international standards such as the Global Organic Textile Standard and Textile Exchange, where the Transaction Certificate is issued post-shipment based on export documents. Consequently, a previous policy mandating the submission of the Transaction Certificate before export has been rescinded.
The government clarified that organic textiles are not subject to the accreditation requirements under the National Programme for Organic Production, and therefore, exporters are no longer required to submit a Transaction Certificate from NAB-accredited bodies at the time of export. Certification for organic textiles is recognized under international standards such as the Global Organic Textile Standard and Textile Exchange, where the Transaction Certificate is issued post-shipment based on export documents. Consequently, a previous policy mandating the submission of the Transaction Certificate before export has been rescinded.
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