Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
The import policy for ITC (HS) code 71141920 (articles of platinum) is amended from 'Free' to 'Restricted', effective immediately. A new Policy Condition No. 6 makes three categories of re imports of Indian origin platinum articles free: goods returned from overseas exhibitions or export promotion tours, goods rejected/returned/unsold, and goods re imported for repair. The revised entry places the item under Chapter 71's restricted regime and subjects all imports of platinum articles to Policy Condition No. 6, which carves out the specified re import exemptions.
The import policy for ITC (HS) code 71141920 (articles of platinum) is amended from 'Free' to 'Restricted', effective immediately. A new Policy Condition No. 6 makes three categories of re imports of Indian origin platinum articles free: goods returned from overseas exhibitions or export promotion tours, goods rejected/returned/unsold, and goods re imported for repair. The revised entry places the item under Chapter 71's restricted regime and subjects all imports of platinum articles to Policy Condition No. 6, which carves out the specified re import exemptions.
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