Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Tariff values under the Customs Act are revised for specified imported goods by substituting the tables in the principal customs notification. The updated values cover edible oils and palmolein varieties, brass scrap, gold and silver in specified forms, and areca nuts, with defined tariff values applying to the listed headings and conditions. For gold and silver, the notification also preserves separate treatment for goods imported under the identified entries and for certain forms excluded from those entries. The revised tariff values take effect from 31 March 2026.
Tariff values under the Customs Act are revised for specified imported goods by substituting the tables in the principal customs notification. The updated values cover edible oils and palmolein varieties, brass scrap, gold and silver in specified forms, and areca nuts, with defined tariff values applying to the listed headings and conditions. For gold and silver, the notification also preserves separate treatment for goods imported under the identified entries and for certain forms excluded from those entries. The revised tariff values take effect from 31 March 2026.
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