Annuloplasty band classification as implanted therapeutic appliance, not anatomical replacement, resulting in classification under tariff heading for ...
De-notification of Customs Area and termination of Container Freight Station custodian and Customs Cargo Service Provider authority effective 07-01-20...
Set-off of short-term capital loss against short-term capital gains taxable at different rates was governed by s.70(2), and in the absence of any statutory sequencing mandate, the taxpayer could first adjust losses against non-STT gains taxable at 30% and thereafter against STT-paid gains taxable at 15%; the Revenue's insistence on the reverse order impermissibly read a restriction into the statute, so the taxpayer's computation was accepted. Dividend on ADR/GDR held by a non-resident was covered by ss.115AC and 196D and had already suffered TDS; taxing it again and denying credit due to Form 26AS mismatch caused by third-party reporting failures violated ss.199 and 205, so the addition and denial of TDS credit were set aside. - ITAT
Set-off of short-term capital loss against short-term capital gains taxable at different rates was governed by s.70(2), and in the absence of any statutory sequencing mandate, the taxpayer could first adjust losses against non-STT gains taxable at 30% and thereafter against STT-paid gains taxable at 15%; the Revenue's insistence on the reverse order impermissibly read a restriction into the statute, so the taxpayer's computation was accepted. Dividend on ADR/GDR held by a non-resident was covered by ss.115AC and 196D and had already suffered TDS; taxing it again and denying credit due to Form 26AS mismatch caused by third-party reporting failures violated ss.199 and 205, so the addition and denial of TDS credit were set aside. - ITAT
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