Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
Disallowance of employees' provident fund contribution was upheld following binding precedent; consequence: contribution remains disallowed for tax purposes. Provision for leave encashment computed actuarially was held to be an ascertained business liability and allowable as a deduction. Deduction under section 80G for CSR-linked donations was permitted where payments lacked quid pro quo, preventing double disallowance. Claims for DDT credit and interest were remitted to the Assessing Officer for factual verification and record scrutiny. Year end ad hoc expense provision reversed in a subsequent year was allowed as a deduction. Additions for short term capital gains and late deposited contributions were ordered verified and deleted if shown to be factually incorrect.
Disallowance of employees' provident fund contribution was upheld following binding precedent; consequence: contribution remains disallowed for tax purposes. Provision for leave encashment computed actuarially was held to be an ascertained business liability and allowable as a deduction. Deduction under section 80G for CSR-linked donations was permitted where payments lacked quid pro quo, preventing double disallowance. Claims for DDT credit and interest were remitted to the Assessing Officer for factual verification and record scrutiny. Year end ad hoc expense provision reversed in a subsequent year was allowed as a deduction. Additions for short term capital gains and late deposited contributions were ordered verified and deleted if shown to be factually incorrect.
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