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...
Where a capital asset devolved on the assessee by succession or trust devolution, the period for which the asset was held by the previous owner/trust is to be included in computing holding period, making the asset a long-term capital asset. The Tribunal upheld allowance of exemption for investment in specified bonds, finding no material contradicting compliance with the bond-investment timing. Claim under the residential-house reinvestment exemption required actual purchase evidence; only an agreement was produced, so the matter was remanded to the Assessing Officer to verify execution of a registered conveyance/purchase deed within the statutory period and decide after hearing the assessee.
Where a capital asset devolved on the assessee by succession or trust devolution, the period for which the asset was held by the previous owner/trust is to be included in computing holding period, making the asset a long-term capital asset. The Tribunal upheld allowance of exemption for investment in specified bonds, finding no material contradicting compliance with the bond-investment timing. Claim under the residential-house reinvestment exemption required actual purchase evidence; only an agreement was produced, so the matter was remanded to the Assessing Officer to verify execution of a registered conveyance/purchase deed within the statutory period and decide after hearing the assessee.
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