Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Non-compete fee paid by an assessee was examined for classification as capital or revenue expenditure. The enduring benefit test was held non-determinative where the advantage is not in the capital field; since the payment only kept a potential competitor at bay, did not create a monopoly, did not result in acquisition of a new business, and did not add to the profit-making apparatus, it was held allowable as revenue expenditure under s. 37(1), and the contrary view was set aside. Interest on borrowed funds used to acquire shares in a subsidiary/associate to obtain controlling interest was held incurred for commercial expediency; interest deduction under s. 36(1)(iii) was allowed and the revenue's challenge dismissed. - SC
Non-compete fee paid by an assessee was examined for classification as capital or revenue expenditure. The enduring benefit test was held non-determinative where the advantage is not in the capital field; since the payment only kept a potential competitor at bay, did not create a monopoly, did not result in acquisition of a new business, and did not add to the profit-making apparatus, it was held allowable as revenue expenditure under s. 37(1), and the contrary view was set aside. Interest on borrowed funds used to acquire shares in a subsidiary/associate to obtain controlling interest was held incurred for commercial expediency; interest deduction under s. 36(1)(iii) was allowed and the revenue's challenge dismissed. - SC
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