Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Ultrasonic flow meters intended for liquid applications were examined for classification as flow meters under tariff item 90261010 versus instruments of heading 9032. The goods' essential character and primary function were held to be measurement of liquid flow rate, with communication protocols merely transmitting measured values to third-party systems. Although the meters provide key inputs used in downstream automatic regulation or control, they do not, as imported, perform automatic regulating/controlling functions or include valves, taps, or starting/stopping/operating mechanisms; hence, they are not excluded from heading 9026. The authority left open departmental scrutiny if imported with control components, which could then attract heading 9032. Classification under 90261010 was affirmed - AAR
Ultrasonic flow meters intended for liquid applications were examined for classification as flow meters under tariff item 90261010 versus instruments of heading 9032. The goods' essential character and primary function were held to be measurement of liquid flow rate, with communication protocols merely transmitting measured values to third-party systems. Although the meters provide key inputs used in downstream automatic regulation or control, they do not, as imported, perform automatic regulating/controlling functions or include valves, taps, or starting/stopping/operating mechanisms; hence, they are not excluded from heading 9026. The authority left open departmental scrutiny if imported with control components, which could then attract heading 9032. Classification under 90261010 was affirmed - AAR
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