Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Notification No. 76/2025-CUSTOMS (N.T.) issued by the Central Board of Indirect Taxes and Customs amends Notification No. 36/2001-CUSTOMS (N.T.) by substituting Tables 1, 2, and 3 to fix tariff values under section 14(2) of the Customs Act, 1962. The tariff values, largely unchanged, are specified for various imported goods including crude and refined palm oil and palmolein, crude soybean oil, brass scrap, areca nuts, and specified forms of gold and silver, with rates expressed in US dollars per metric tonne, per 10 grams, or per kilogram as applicable. The revised tariff values take effect from 12 December 2025.
Notification No. 76/2025-CUSTOMS (N.T.) issued by the Central Board of Indirect Taxes and Customs amends Notification No. 36/2001-CUSTOMS (N.T.) by substituting Tables 1, 2, and 3 to fix tariff values under section 14(2) of the Customs Act, 1962. The tariff values, largely unchanged, are specified for various imported goods including crude and refined palm oil and palmolein, crude soybean oil, brass scrap, areca nuts, and specified forms of gold and silver, with rates expressed in US dollars per metric tonne, per 10 grams, or per kilogram as applicable. The revised tariff values take effect from 12 December 2025.
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