Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Clarifies that securitisation trusts constituted under regulatory framework qualify as revocable trusts because the trust deed grants contributors a structured right of revocation and re-transfer of assets, thereby satisfying the re-transfer and re-assumption limbs of revocability; consequence: income is taxable in the hands of Security Receipt Holders, not the trust. Rejects characterization of such trusts as an Association of Persons: the trustee acts under the deed without joint management or common volition, beneficiaries are determinable from records, and therefore AOP assessment and applying general aggregation provisions is inapplicable. Concludes that earlier Tribunal and legislative developments support pass-through taxation of securitisation trusts.
Clarifies that securitisation trusts constituted under regulatory framework qualify as revocable trusts because the trust deed grants contributors a structured right of revocation and re-transfer of assets, thereby satisfying the re-transfer and re-assumption limbs of revocability; consequence: income is taxable in the hands of Security Receipt Holders, not the trust. Rejects characterization of such trusts as an Association of Persons: the trustee acts under the deed without joint management or common volition, beneficiaries are determinable from records, and therefore AOP assessment and applying general aggregation provisions is inapplicable. Concludes that earlier Tribunal and legislative developments support pass-through taxation of securitisation trusts.
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