Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Omission of specific wording in Form No.10 does not automatically defeat accumulation under section 11(2) where the assessee substantiates the specific purpose and the tax officer was aware of and did not disbelieve the declaration; accumulation must, however, remain within the trust's objects, and supporting documents (object clauses, board resolution, project details) may cure a vague Form 10 description. Tribunal directed fresh consideration of the deduction claimed under section 11(2) for the relevant year in light of the materials furnished and precedents favouring substance over formal vagueness.
Omission of specific wording in Form No.10 does not automatically defeat accumulation under section 11(2) where the assessee substantiates the specific purpose and the tax officer was aware of and did not disbelieve the declaration; accumulation must, however, remain within the trust's objects, and supporting documents (object clauses, board resolution, project details) may cure a vague Form 10 description. Tribunal directed fresh consideration of the deduction claimed under section 11(2) for the relevant year in light of the materials furnished and precedents favouring substance over formal vagueness.
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