Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Basic customs duty is exempted, to the extent it exceeds nil, on specified imported chemicals, petrochemicals and polymer products listed in the notification, subject to the corresponding tariff classifications in the First Schedule to the Customs Tariff Act, 1975. The exemption covers items such as ammonia, toluene, styrene, methanol, MEG, PTA, polypropylene, PVC, PET chips, resins, polyurethanes and related polymers. The notification takes effect from 2 April 2026 and remains operative up to and including 30 June 2026.
Basic customs duty is exempted, to the extent it exceeds nil, on specified imported chemicals, petrochemicals and polymer products listed in the notification, subject to the corresponding tariff classifications in the First Schedule to the Customs Tariff Act, 1975. The exemption covers items such as ammonia, toluene, styrene, methanol, MEG, PTA, polypropylene, PVC, PET chips, resins, polyurethanes and related polymers. The notification takes effect from 2 April 2026 and remains operative up to and including 30 June 2026.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
