Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Integrated Dynamic Brake was classified under heading 8708 as a motor vehicle part or accessory, with classification under headings 9032, 8413 and 8479 rejected. The product was not an automatic regulating or controlling instrument because it did not independently measure and regulate braking to a preset value, but functioned as part of the vehicle braking mechanism. It was also not classed under 8413, since the pump was only one integrated component and did not give the product its essential character, and not under 8479, because it had no independent function outside vehicle integration. It was held not to be a brake or an essential part of brakes, but an ancillary braking enhancement, so the residual entry 87089900 applied.
Integrated Dynamic Brake was classified under heading 8708 as a motor vehicle part or accessory, with classification under headings 9032, 8413 and 8479 rejected. The product was not an automatic regulating or controlling instrument because it did not independently measure and regulate braking to a preset value, but functioned as part of the vehicle braking mechanism. It was also not classed under 8413, since the pump was only one integrated component and did not give the product its essential character, and not under 8479, because it had no independent function outside vehicle integration. It was held not to be a brake or an essential part of brakes, but an ancillary braking enhancement, so the residual entry 87089900 applied.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
