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...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Recovery of drawback under Rules 16 and 16A of the 1995 Drawback Rules was held impermissible after the 2017 Drawback Rules came into force, because the repeal and saving provision in rule 20(2) did not preserve such proceedings and the show cause notice was issued only after the new rules operated. Denial of All Industry Rate drawback was rejected where the export consignments were assessed, Let Export Orders were issued, and drawback was granted; alleged fake procurement invoices could not defeat the claim, and the recorded statement was inadmissible without compliance with section 138B. Confiscation of goods already exported was also set aside, and penalties under sections 114 and 114AA on the exporter and partner could not survive.
Recovery of drawback under Rules 16 and 16A of the 1995 Drawback Rules was held impermissible after the 2017 Drawback Rules came into force, because the repeal and saving provision in rule 20(2) did not preserve such proceedings and the show cause notice was issued only after the new rules operated. Denial of All Industry Rate drawback was rejected where the export consignments were assessed, Let Export Orders were issued, and drawback was granted; alleged fake procurement invoices could not defeat the claim, and the recorded statement was inadmissible without compliance with section 138B. Confiscation of goods already exported was also set aside, and penalties under sections 114 and 114AA on the exporter and partner could not survive.
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