Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Under Rule 10(2), transport cost up to the place of importation had to be included in assessable value, so where imports were invoiced on ex-works basis the cost up to loading on board had first to be added to reach FOB value, and the 20% air-freight cap was to be computed with reference to that FOB value. The valuation objection therefore failed. However, extended limitation for short-levy required collusion, wilful misstatement or suppression of facts, and the same foundation was necessary for penalty under section 114A. The wrong declaration of ex-works price as FOB value was treated as an oversight, with no material showing intent to evade duty; accordingly, the demand raised only under the extended period and the penalties on the importer and customs broker were set aside.
Under Rule 10(2), transport cost up to the place of importation had to be included in assessable value, so where imports were invoiced on ex-works basis the cost up to loading on board had first to be added to reach FOB value, and the 20% air-freight cap was to be computed with reference to that FOB value. The valuation objection therefore failed. However, extended limitation for short-levy required collusion, wilful misstatement or suppression of facts, and the same foundation was necessary for penalty under section 114A. The wrong declaration of ex-works price as FOB value was treated as an oversight, with no material showing intent to evade duty; accordingly, the demand raised only under the extended period and the penalties on the importer and customs broker were set aside.
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