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...
Classification was determined under the General Rules for Interpretation (GRI): the product's chemical composition and constant elemental ratio establish it as a separately chemically defined compound within Chapter 29. The authority analysed Chapter and Section Notes and explanatory material, found the product is a phospholipid (phosphatidylserine) with a glycerophosphate skeleton conjugated to two fatty acids and Lserine, and treated it as falling within the scope of heading 2923 for lecithins and other phosphoaminolipids. Consequent upon that chemical-character analysis, the product was held classifiable under Tariff Item 2923 2090 of the First Schedule to the Customs Tariff Act, 1975.
Classification was determined under the General Rules for Interpretation (GRI): the product's chemical composition and constant elemental ratio establish it as a separately chemically defined compound within Chapter 29. The authority analysed Chapter and Section Notes and explanatory material, found the product is a phospholipid (phosphatidylserine) with a glycerophosphate skeleton conjugated to two fatty acids and Lserine, and treated it as falling within the scope of heading 2923 for lecithins and other phosphoaminolipids. Consequent upon that chemical-character analysis, the product was held classifiable under Tariff Item 2923 2090 of the First Schedule to the Customs Tariff Act, 1975.
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