Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
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Depreciation at the higher rate for life-saving medical equipment was denied where the assessee's operation theatre, air pipeline system, anaesthesia trolley system and stabilizer were not specifically listed in the depreciation table and were not remotely identical to the notified equipment. On that basis, allowance of depreciation at 40% was treated as a mistake apparent from the record, and rectification under section 154 was upheld. The Tribunal sustained restriction of depreciation to 15% and rejected reliance on the cited High Court ruling because that case involved equipment found identical to the specified machinery, which was not the position here.
Depreciation at the higher rate for life-saving medical equipment was denied where the assessee's operation theatre, air pipeline system, anaesthesia trolley system and stabilizer were not specifically listed in the depreciation table and were not remotely identical to the notified equipment. On that basis, allowance of depreciation at 40% was treated as a mistake apparent from the record, and rectification under section 154 was upheld. The Tribunal sustained restriction of depreciation to 15% and rejected reliance on the cited High Court ruling because that case involved equipment found identical to the specified machinery, which was not the position here.
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