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...
Goods cleared from an SEZ into the DTA on payment of applicable customs duties are to be treated as imported goods for purposes of drawback on re-export under Section 74 of the Customs Act, 1962. The instruction notes that SEZ-to-DTA movement attracts customs duty under the SEZ Act, and that such goods, once duty-paid and re-exported, satisfy the statutory conditions of being previously imported and capable of easy identification. Field formations are accordingly directed to process drawback claims on that basis, and earlier divergent practices are addressed through this clarification.
Goods cleared from an SEZ into the DTA on payment of applicable customs duties are to be treated as imported goods for purposes of drawback on re-export under Section 74 of the Customs Act, 1962. The instruction notes that SEZ-to-DTA movement attracts customs duty under the SEZ Act, and that such goods, once duty-paid and re-exported, satisfy the statutory conditions of being previously imported and capable of easy identification. Field formations are accordingly directed to process drawback claims on that basis, and earlier divergent practices are addressed through this clarification.
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