Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s orders: the amount characterized as an "arbitration award" was held to be a typographical misclassification of software sale and the related addition was deleted; foreign exchange fluctuation gains were held to be business receipts directly relatable to export of software and therefore eligible for exemption under s.10A; and no disallowance under s.40(a)(ia) was warranted where the assessee had deducted tax at source (albeit at a lower rate) on the buy-back consideration, such deduction being treated as compliance with the TDS obligation. The Revenue's challenge was therefore rejected in entirety.
ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s orders: the amount characterized as an "arbitration award" was held to be a typographical misclassification of software sale and the related addition was deleted; foreign exchange fluctuation gains were held to be business receipts directly relatable to export of software and therefore eligible for exemption under s.10A; and no disallowance under s.40(a)(ia) was warranted where the assessee had deducted tax at source (albeit at a lower rate) on the buy-back consideration, such deduction being treated as compliance with the TDS obligation. The Revenue's challenge was therefore rejected in entirety.
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