Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
The BoA for SEZs ratified the minutes of its previous meeting and granted a one-year extension of validity of the Letter of Approval for an SEZ unit that had completed construction and installation but awaited USFDA-related commencement. It approved an increase in development rights and land area for an existing co-developer at GIFT-SEZ, subject to SEZ terms and tax examination by the assessing authority. The Board also approved partial de-notification of land from an IT/ITES SEZ, permitted multiple demarcations of processing built-up area as non-processing area under Rule 11B after repayment of duty benefits and issue of no-dues certificates, approved merger of two adjacent sector-specific SEZs into one multi-sector SEZ, and remanded an appeal against cancellation of a unit's LoA for fresh decision after reasonable hearing.
The BoA for SEZs ratified the minutes of its previous meeting and granted a one-year extension of validity of the Letter of Approval for an SEZ unit that had completed construction and installation but awaited USFDA-related commencement. It approved an increase in development rights and land area for an existing co-developer at GIFT-SEZ, subject to SEZ terms and tax examination by the assessing authority. The Board also approved partial de-notification of land from an IT/ITES SEZ, permitted multiple demarcations of processing built-up area as non-processing area under Rule 11B after repayment of duty benefits and issue of no-dues certificates, approved merger of two adjacent sector-specific SEZs into one multi-sector SEZ, and remanded an appeal against cancellation of a unit's LoA for fresh decision after reasonable hearing.
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