Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Whether imported racks are classifiable as electrical control apparatus and whether they attract concessional BCD. Applying Note 3 to Section XVI and GRI 3(a), the authority found the racks are composite/multi-functional with the principal function being distribution of electricity; the UPS within is ancillary (providing backup to networking equipment) and does not determine essential character. Explanatory Notes and the boards/panels description show Heading 8537 gives the more specific description than Headings 8504/8517/8543, so the racks are classifiable under 8537 10 90. Consequence: the racks are classed under 8537 10 90 and eligible for the concessional BCD under Notification No.45/2025 (S. No. 281). - AAR
Whether imported racks are classifiable as electrical control apparatus and whether they attract concessional BCD. Applying Note 3 to Section XVI and GRI 3(a), the authority found the racks are composite/multi-functional with the principal function being distribution of electricity; the UPS within is ancillary (providing backup to networking equipment) and does not determine essential character. Explanatory Notes and the boards/panels description show Heading 8537 gives the more specific description than Headings 8504/8517/8543, so the racks are classifiable under 8537 10 90. Consequence: the racks are classed under 8537 10 90 and eligible for the concessional BCD under Notification No.45/2025 (S. No. 281). - AAR
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