Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Under the project completion method, only costs that directly bring inventory to its present location and condition may be included in work-in-progress. Expenditure on advertisement, business promotion and commission to agents was treated as promotional and general business outgoings, so it remained revenue expenditure in the year incurred and could not be loaded into project cost merely because revenue had not yet been recognised. By contrast, loan processing charges and security expenses were found to be project-specific and directly connected with the project, so they had to be capitalised as part of work-in-progress.
Under the project completion method, only costs that directly bring inventory to its present location and condition may be included in work-in-progress. Expenditure on advertisement, business promotion and commission to agents was treated as promotional and general business outgoings, so it remained revenue expenditure in the year incurred and could not be loaded into project cost merely because revenue had not yet been recognised. By contrast, loan processing charges and security expenses were found to be project-specific and directly connected with the project, so they had to be capitalised as part of work-in-progress.
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