CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
HC construed CBDT circulars dated 09.09.2019 and 23.01.2020 in relation to prosecution under ss. 276C(1) and 278E of the IT Act. It held that where the amount of tax sought to be evaded exceeds Rs. 25 lakhs, the competent approving/sanctioning authority for launching prosecution is the PCIT, and not a collegium of two CCIT/DGIT rank officers. The requirement of collegium approval applies only where the evaded tax is Rs. 25 lakhs or below. Finding the sanction valid and no infirmity in prosecution, the petition by assessee was dismissed.
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