Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Concessional duty under Sl. No. 5D(b) of Notfn. 57/2017-Cus for "inputs and parts for use in manufacture" was held applicable to imported inputs/parts placed in the display assembly manufacturing line even if they are subsequently damaged or scrapped and do not form part of the finished display assembly, since the phrase covers goods used in the manufacturing process and not merely those incorporated in the final product. IGCR provisions on defective/unutilized goods were treated as addressing goods defective at import and not restricting the notification's scope for process scrap. Benefit of exemption was thus allowed for such manufacturing scrap inputs/parts. - AAR
Concessional duty under Sl. No. 5D(b) of Notfn. 57/2017-Cus for "inputs and parts for use in manufacture" was held applicable to imported inputs/parts placed in the display assembly manufacturing line even if they are subsequently damaged or scrapped and do not form part of the finished display assembly, since the phrase covers goods used in the manufacturing process and not merely those incorporated in the final product. IGCR provisions on defective/unutilized goods were treated as addressing goods defective at import and not restricting the notification's scope for process scrap. Benefit of exemption was thus allowed for such manufacturing scrap inputs/parts. - AAR
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