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...
Demutualisation share transfers are to be taxed as long-term capital gains when the holding period and cost are determined by reference to pre-demutualisation membership; the statutory demutualisation cost rule requires adopting the original membership acquisition cost or its written down value as cost of acquisition, notwithstanding prior depreciation claimed on the membership card. The assessing officer's reliance on general short-term provisions is displaced by the specific demutualisation mechanism and binding precedent, leading to acceptance of original membership cost and long-term treatment of the gain.
Demutualisation share transfers are to be taxed as long-term capital gains when the holding period and cost are determined by reference to pre-demutualisation membership; the statutory demutualisation cost rule requires adopting the original membership acquisition cost or its written down value as cost of acquisition, notwithstanding prior depreciation claimed on the membership card. The assessing officer's reliance on general short-term provisions is displaced by the specific demutualisation mechanism and binding precedent, leading to acceptance of original membership cost and long-term treatment of the gain.
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