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...
Imported fabric was classified as polyester cut pile fabric on the basis of the Textile Committee report and the importer's own manufacturing descriptions showing loops cut to form pile. In the absence of any contrary test report, there was no reason to reject the expert report or require a retest, and the importer had no right to dictate the mode of testing. The reclassification and consequential duty demand on both Bills of Entry were sustained. On penalty, the tribunal held that the mandatory penalty equal to duty under section 114A had been omitted for one Bill of Entry, so the order required modification to extend the penalty to the additional differential duty.
Imported fabric was classified as polyester cut pile fabric on the basis of the Textile Committee report and the importer's own manufacturing descriptions showing loops cut to form pile. In the absence of any contrary test report, there was no reason to reject the expert report or require a retest, and the importer had no right to dictate the mode of testing. The reclassification and consequential duty demand on both Bills of Entry were sustained. On penalty, the tribunal held that the mandatory penalty equal to duty under section 114A had been omitted for one Bill of Entry, so the order required modification to extend the penalty to the additional differential duty.
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