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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Public Notice No. 33/2025-2026 issued by the Directorate General of Foreign Trade amends paragraphs 4.87(a) and 4.88 of the 2023 Handbook of Procedures under the Foreign Trade Policy 2023. The amendments expand the list of airports through which personal carriage of gems and jewellery export and import parcels is permitted to include Ahmedabad, in addition to specified major airports. Export parcels may be personally carried by foreign-bound passengers, and import parcels by Indian importers or foreign nationals, subject to customs procedures and examination, with export proceeds to be realized through normal banking channels and customs clearance as per standard procedures.
Public Notice No. 33/2025-2026 issued by the Directorate General of Foreign Trade amends paragraphs 4.87(a) and 4.88 of the 2023 Handbook of Procedures under the Foreign Trade Policy 2023. The amendments expand the list of airports through which personal carriage of gems and jewellery export and import parcels is permitted to include Ahmedabad, in addition to specified major airports. Export parcels may be personally carried by foreign-bound passengers, and import parcels by Indian importers or foreign nationals, subject to customs procedures and examination, with export proceeds to be realized through normal banking channels and customs clearance as per standard procedures.
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