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...
Activity trackers/fitness bands were held classifiable under CTI 8517 6290 because their principal function extended beyond pedometer-like step counting and included tracking and communication-linked fitness outputs through a paired application; the residual tariff entry was therefore applied and the classification under CTI 9029 1090 was rejected. The extended period of limitation was not available because the classification issue was already within departmental knowledge, the goods had been examined under customs control, and no suppression, wilful misstatement, collusion or fraud was shown. Only differential duty with applicable interest for the normal period was sustained. Alleged DGFT labelling non-compliance did not justify confiscation, redemption fine or penalty.
Activity trackers/fitness bands were held classifiable under CTI 8517 6290 because their principal function extended beyond pedometer-like step counting and included tracking and communication-linked fitness outputs through a paired application; the residual tariff entry was therefore applied and the classification under CTI 9029 1090 was rejected. The extended period of limitation was not available because the classification issue was already within departmental knowledge, the goods had been examined under customs control, and no suppression, wilful misstatement, collusion or fraud was shown. Only differential duty with applicable interest for the normal period was sustained. Alleged DGFT labelling non-compliance did not justify confiscation, redemption fine or penalty.
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