Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Customs jurisdiction defined for Principal Commissioner, Vishakhapatnam, covering specified ports, districts and India's adjacent EEZ; effective on pu...
Payment for independent contractor services for MIS reporting, stock verification and marketing were found to be business-necessary and allowable where rendered by unrelated and independent entities and supported by reports and inventory certificates; therefore the examiner's blanket disallowance based on perceived unreasonableness was rejected and books of account were not struck. Comparative per-location cost differences alone did not justify disallowance absent evidence of fictitiousness or lack of service, and the assessee's long experience and engagement terms were held relevant. The appellant's grounds to allow these contract expenses were accepted and the appeal was allowed.
Payment for independent contractor services for MIS reporting, stock verification and marketing were found to be business-necessary and allowable where rendered by unrelated and independent entities and supported by reports and inventory certificates; therefore the examiner's blanket disallowance based on perceived unreasonableness was rejected and books of account were not struck. Comparative per-location cost differences alone did not justify disallowance absent evidence of fictitiousness or lack of service, and the assessee's long experience and engagement terms were held relevant. The appellant's grounds to allow these contract expenses were accepted and the appeal was allowed.
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