Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
For section 80-IA, the market value of captive power had to be benchmarked to the tariff charged by the State Electricity Board to industrial consumers, including the electricity duty component, and not to the assessee's sale price for surplus power; the assessee therefore succeeded on quantification. Deduction under section 80-IA did not require any reduction from profits eligible under section 80HHC, so the assessee also succeeded on that computation issue. For section 115JB, the entire profits eligible under section 80HHC had to be excluded from book profit, as the phased restriction in section 80HHC(1B) did not govern MAT computation. Applying the purpose test, sales tax remission linked to industrial expansion in backward areas was held to be a capital receipt and excludible from book profit.
For section 80-IA, the market value of captive power had to be benchmarked to the tariff charged by the State Electricity Board to industrial consumers, including the electricity duty component, and not to the assessee's sale price for surplus power; the assessee therefore succeeded on quantification. Deduction under section 80-IA did not require any reduction from profits eligible under section 80HHC, so the assessee also succeeded on that computation issue. For section 115JB, the entire profits eligible under section 80HHC had to be excluded from book profit, as the phased restriction in section 80HHC(1B) did not govern MAT computation. Applying the purpose test, sales tax remission linked to industrial expansion in backward areas was held to be a capital receipt and excludible from book profit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
