Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Notification No. 42/2025-Customs is amended by substituting the existing table with a revised table prescribing tariff-item-wise rates of basic customs duty (BCD), Agriculture Infrastructure and Development Cess (AIDC) and health cess for specified goods covered under the first tranche of tariff concessions under the India-EFTA arrangement (Norway). The substituted table updates the applicable concessional duty structure for the listed tariff items and descriptions, determining the duty payable on their importation in accordance with the revised rates. The amendment comes into force on 1 January 2026.
Notification No. 42/2025-Customs is amended by substituting the existing table with a revised table prescribing tariff-item-wise rates of basic customs duty (BCD), Agriculture Infrastructure and Development Cess (AIDC) and health cess for specified goods covered under the first tranche of tariff concessions under the India-EFTA arrangement (Norway). The substituted table updates the applicable concessional duty structure for the listed tariff items and descriptions, determining the duty payable on their importation in accordance with the revised rates. The amendment comes into force on 1 January 2026.
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