Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
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The ITAT held that, pursuant to s.199(3) read with r.37BA, TDS credit must be granted to the person on whose payment the tax was deducted where the deduction is reflected in Form 26AS; consequently the appellant, being the agent who had payments reflected in Form 26AS, is entitled to credit of the full TDS so reflected. The tribunal further held that the r.37BA(2) declaration mechanism is directory not mandatory, and commercial exigencies justified non-issuance of declarations to the foreign principal. In absence of any Revenue contention on understatement of income or audit qualification, the balance TDS credit claimed by the appellant was allowed.
The ITAT held that, pursuant to s.199(3) read with r.37BA, TDS credit must be granted to the person on whose payment the tax was deducted where the deduction is reflected in Form 26AS; consequently the appellant, being the agent who had payments reflected in Form 26AS, is entitled to credit of the full TDS so reflected. The tribunal further held that the r.37BA(2) declaration mechanism is directory not mandatory, and commercial exigencies justified non-issuance of declarations to the foreign principal. In absence of any Revenue contention on understatement of income or audit qualification, the balance TDS credit claimed by the appellant was allowed.
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