Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 7 of FEMA and the export regulations require exporters to realise and repatriate full export proceeds within the stipulated time, and extension is available only on sufficient cause shown. The Tribunal sustained contravention where export proceeds remained unrealised for years, no effective recovery steps were documented, and alleged foreign buyer distress was unsupported by official records or concrete recovery action. Regulation 16(1)(i) was read as imposing a primary duty to ship goods within one year of advance receipt; failure to do so, without satisfactory explanation or adjustment against other exports, justified contravention. Directors in charge of business were also liable unless they proved lack of knowledge or due diligence; one director was excluded on facts.
Section 7 of FEMA and the export regulations require exporters to realise and repatriate full export proceeds within the stipulated time, and extension is available only on sufficient cause shown. The Tribunal sustained contravention where export proceeds remained unrealised for years, no effective recovery steps were documented, and alleged foreign buyer distress was unsupported by official records or concrete recovery action. Regulation 16(1)(i) was read as imposing a primary duty to ship goods within one year of advance receipt; failure to do so, without satisfactory explanation or adjustment against other exports, justified contravention. Directors in charge of business were also liable unless they proved lack of knowledge or due diligence; one director was excluded on facts.
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