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...
Protective addition of the value of seized fine gold was impermissible once actual ownership was established. Since the owners of the seized gold were identified and had admitted ownership, and substantive assessment of the same asset was made in the hands of those real owners who undertook to discharge the tax liability, the assessee's mere status as a job worker could not justify a parallel protective addition. Accordingly, the protective addition in the assessee's hands was held invalid and was deleted, allowing the appeal. - ITAT
Protective addition of the value of seized fine gold was impermissible once actual ownership was established. Since the owners of the seized gold were identified and had admitted ownership, and substantive assessment of the same asset was made in the hands of those real owners who undertook to discharge the tax liability, the assessee's mere status as a job worker could not justify a parallel protective addition. Accordingly, the protective addition in the assessee's hands was held invalid and was deleted, allowing the appeal. - ITAT
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