Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
CESTAT held that the imported BA 63 display units, cash drawers and cables, being solely and integrally used with POS computer systems (ADP machines), satisfy all conditions under Note 5 to Chapter 84 and therefore fall within the ambit of CTH 8471. The goods function as input/output units or parts, capable of accepting or delivering data in codes or signals usable by the POS system/CPU for completion of sale transactions. Consequently, CESTAT ruled that the goods are correctly classifiable under CTI 8471 60 90 as parts of POS systems, and not under CTI 8531 80 00 as determined by the original authority. The impugned order was set aside and the appeal of M/s X allowed.
CESTAT held that the imported BA 63 display units, cash drawers and cables, being solely and integrally used with POS computer systems (ADP machines), satisfy all conditions under Note 5 to Chapter 84 and therefore fall within the ambit of CTH 8471. The goods function as input/output units or parts, capable of accepting or delivering data in codes or signals usable by the POS system/CPU for completion of sale transactions. Consequently, CESTAT ruled that the goods are correctly classifiable under CTI 8471 60 90 as parts of POS systems, and not under CTI 8531 80 00 as determined by the original authority. The impugned order was set aside and the appeal of M/s X allowed.
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