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...
Electronic Postal Bill of Export templates mandating specified data fields for postal export declarations; system-generated Let Export Order on public...
Regularization of bona fide default under the Foreign Trade Policy provisions operates to revise and restate the export obligation (EO) in the Advance Authorizations, and the quantum of EO is a licensing authority determination; consequently fulfilment of EO as accepted by the licensing authority precludes Customs from treating conditions in Customs notifications as separately violated. An Export Obligation Discharge Certificate (EODC) is conclusive evidence of EO fulfilment for recovery purposes and, where bonds securing authorizations have been cancelled, demands under Customs Act provision for recovery cannot be enforced, negating duty, interest, penalty and confiscation.
Regularization of bona fide default under the Foreign Trade Policy provisions operates to revise and restate the export obligation (EO) in the Advance Authorizations, and the quantum of EO is a licensing authority determination; consequently fulfilment of EO as accepted by the licensing authority precludes Customs from treating conditions in Customs notifications as separately violated. An Export Obligation Discharge Certificate (EODC) is conclusive evidence of EO fulfilment for recovery purposes and, where bonds securing authorizations have been cancelled, demands under Customs Act provision for recovery cannot be enforced, negating duty, interest, penalty and confiscation.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
