Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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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