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...
Page of 4828
Press 'Enter' after typing page number.
361 to 380 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
HC affirms AT and revenue findings, holding that receipt of Rs. 66,00,000 from the company constitutes salary, not professional/business income, because the assessee failed to produce documentary evidence specifying nature or nexus of professional/technical services rendered. The court found a conflict of interest where loans advanced to the company were in the assessee's name, undermining the professional-fee characterization; TDS treatment as "professional charges" is not determinative of income heads. Further, interest expenditure of Rs. 45,26,956 is disallowed for lack of nexus with any business or profession of the assessee; mortgaging and advancing personal property to the company does not render the interest an allowable business expense. Appeal dismissed; decision for Revenue.
HC affirms AT and revenue findings, holding that receipt of Rs. 66,00,000 from the company constitutes salary, not professional/business income, because the assessee failed to produce documentary evidence specifying nature or nexus of professional/technical services rendered. The court found a conflict of interest where loans advanced to the company were in the assessee's name, undermining the professional-fee characterization; TDS treatment as "professional charges" is not determinative of income heads. Further, interest expenditure of Rs. 45,26,956 is disallowed for lack of nexus with any business or profession of the assessee; mortgaging and advancing personal property to the company does not render the interest an allowable business expense. Appeal dismissed; decision for Revenue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
