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...
The AAR held that the applicant's AC-DC power modules and DC-DC converter power modules are classifiable under CTH 8504 as static converters. AC-DC power modules are specifically classifiable under CTI 8504 4029 as "other rectifiers," while DC-DC converter power modules fall under CTI 8504 4090 as "other static converters," applying GRI 1, Section Note 2(a) to Section XVI and HSN Explanatory Notes. As the DC-DC converter modules are used in PCBAs for wi-fi receivers, wi-fi transmitters, up-link cards and data-center switches, they qualify as static converters for telecommunication apparatus (other than cellular mobile phones). Accordingly, the AAR ruled that the subject goods are covered by Sl. No. 4 of Notif. No. 25/2005-Cus and are eligible for nil customs duty.
The AAR held that the applicant's AC-DC power modules and DC-DC converter power modules are classifiable under CTH 8504 as static converters. AC-DC power modules are specifically classifiable under CTI 8504 4029 as "other rectifiers," while DC-DC converter power modules fall under CTI 8504 4090 as "other static converters," applying GRI 1, Section Note 2(a) to Section XVI and HSN Explanatory Notes. As the DC-DC converter modules are used in PCBAs for wi-fi receivers, wi-fi transmitters, up-link cards and data-center switches, they qualify as static converters for telecommunication apparatus (other than cellular mobile phones). Accordingly, the AAR ruled that the subject goods are covered by Sl. No. 4 of Notif. No. 25/2005-Cus and are eligible for nil customs duty.
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