Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
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The Tribunal held that Section 127J of the Customs Act did not bar independent FEMA proceedings merely because the same facts had earlier been considered in Customs settlement, since FEMA operates as a self-contained code and the authority may rely on evidence separately gathered in FEMA . It further held that commission paid abroad by the foreign buyer to a foreign agent was not export proceeds due to the exporter, so no failure to repatriate arose under Sections 7 and 8 of FEMA and the RBI Master Circular on exporter-paid commission had no application. The statement of a director was treated as hearsay for earlier transactions and was insufficient to prove contravention, so the penalties were set aside.
The Tribunal held that Section 127J of the Customs Act did not bar independent FEMA proceedings merely because the same facts had earlier been considered in Customs settlement, since FEMA operates as a self-contained code and the authority may rely on evidence separately gathered in FEMA . It further held that commission paid abroad by the foreign buyer to a foreign agent was not export proceeds due to the exporter, so no failure to repatriate arose under Sections 7 and 8 of FEMA and the RBI Master Circular on exporter-paid commission had no application. The statement of a director was treated as hearsay for earlier transactions and was insufficient to prove contravention, so the penalties were set aside.
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