Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
RBI has amended the Master Direction on non-resident investment in debt instruments by consolidating earlier instructions on NRI investment in debt instruments and the use of debt instruments acquired under FEMA 396 as collateral with recognised stock exchanges for exchange traded derivative transactions. The updated Master Direction is enclosed for authorised dealer Category-I banks, which are to circulate the changes to concerned constituents and customers. The circular is issued under the Foreign Exchange Management Act, 1999 and operates without prejudice to approvals required under any other law.
RBI has amended the Master Direction on non-resident investment in debt instruments by consolidating earlier instructions on NRI investment in debt instruments and the use of debt instruments acquired under FEMA 396 as collateral with recognised stock exchanges for exchange traded derivative transactions. The updated Master Direction is enclosed for authorised dealer Category-I banks, which are to circulate the changes to concerned constituents and customers. The circular is issued under the Foreign Exchange Management Act, 1999 and operates without prejudice to approvals required under any other law.
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