Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Admissibility of a belated exercise of the option for the concessional tax regime under section 115BAA turned on procedural compliance versus substantive intention: Tribunal held that filing Form No.10IC prior to processing together with a defect-corrected/revised return demonstrated clear intention to opt for 115BAA, relied on coordinate-bench precedents favouring substance over minor procedural lapses, distinguished contrary authority on its facts, allowed the appeal and directed the Assessing Officer to verify Form No.10IC and grant the concessional regime if the form was in order.
Admissibility of a belated exercise of the option for the concessional tax regime under section 115BAA turned on procedural compliance versus substantive intention: Tribunal held that filing Form No.10IC prior to processing together with a defect-corrected/revised return demonstrated clear intention to opt for 115BAA, relied on coordinate-bench precedents favouring substance over minor procedural lapses, distinguished contrary authority on its facts, allowed the appeal and directed the Assessing Officer to verify Form No.10IC and grant the concessional regime if the form was in order.
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