Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Allowability of business expenditure: the tribunal applied its prior assessment-year finding on identical facts that power and fuel costs from a captive power plant were genuine business expenses utilised for manufacturing, and therefore upheld deletion of their disallowance against the assessee. Disallowance under Rule 8D: the tribunal reiterated that disallowance calculated under the rule cannot exceed the amount of exempt income for the year, rejected reliance on an administrative circular to enlarge the disallowance, and sustained the CIT(A)'s restriction to exempt income. Appeals allowed for the assessee; revenue appeals dismissed.
Allowability of business expenditure: the tribunal applied its prior assessment-year finding on identical facts that power and fuel costs from a captive power plant were genuine business expenses utilised for manufacturing, and therefore upheld deletion of their disallowance against the assessee. Disallowance under Rule 8D: the tribunal reiterated that disallowance calculated under the rule cannot exceed the amount of exempt income for the year, rejected reliance on an administrative circular to enlarge the disallowance, and sustained the CIT(A)'s restriction to exempt income. Appeals allowed for the assessee; revenue appeals dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
