Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
The HC modified the provisional release conditions for seized goods, holding that the earlier directions in a prior Madras HC order should be followed. It directed release on payment of the duty declared by the petitioner, payment of 50% of the differential duty on the Department's assessed value, and execution of bonds in place of the originally required bond and bank guarantee. The release was made conditional on compliance with these substituted terms and the petitioner's cooperation in the ongoing investigation, while investigation and adjudication were left to continue in accordance with law.
The HC modified the provisional release conditions for seized goods, holding that the earlier directions in a prior Madras HC order should be followed. It directed release on payment of the duty declared by the petitioner, payment of 50% of the differential duty on the Department's assessed value, and execution of bonds in place of the originally required bond and bank guarantee. The release was made conditional on compliance with these substituted terms and the petitioner's cooperation in the ongoing investigation, while investigation and adjudication were left to continue in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
