Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
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