Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Classification of imported Manifold Absolute Pressure and Air Temperature sensors turned on whether they are precision measuring instruments or motor-vehicle parts. The tribunal applied Chapter/Heading explanatory notes and the essential character test, finding the devices precision measuring function decisive and the more specific heading applicable; it followed co-ordinate Bench precedents classifying similar sensors under the measuring-instruments heading and treated an Authority for Advance Rulings decision as persuasive. As a result the tribunal set aside the impugned adverse classification order and allowed the appeal with consequential benefits as per law.
Classification of imported Manifold Absolute Pressure and Air Temperature sensors turned on whether they are precision measuring instruments or motor-vehicle parts. The tribunal applied Chapter/Heading explanatory notes and the essential character test, finding the devices precision measuring function decisive and the more specific heading applicable; it followed co-ordinate Bench precedents classifying similar sensors under the measuring-instruments heading and treated an Authority for Advance Rulings decision as persuasive. As a result the tribunal set aside the impugned adverse classification order and allowed the appeal with consequential benefits as per law.
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