Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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Imported rotary gas meters were classified as gas meters under CTI 9028 10 00 because their essential function was custody transfer measurement of the total volume of gas passed through them, as shown by the product brochure, direct readout and buyer use. The Tribunal held that pressure or flow specifications did not change the instrument's character, so the alternative claim to exemption failed. The extended period of limitation could not be invoked because the documents were filed and the dispute arose from classification, not collusion, wilful misstatement or suppression of facts; the demand survived only for the normal period. Penalty under section 114A was also set aside for the same reason.
Imported rotary gas meters were classified as gas meters under CTI 9028 10 00 because their essential function was custody transfer measurement of the total volume of gas passed through them, as shown by the product brochure, direct readout and buyer use. The Tribunal held that pressure or flow specifications did not change the instrument's character, so the alternative claim to exemption failed. The extended period of limitation could not be invoked because the documents were filed and the dispute arose from classification, not collusion, wilful misstatement or suppression of facts; the demand survived only for the normal period. Penalty under section 114A was also set aside for the same reason.
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