Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
DSIR certification supported deduction under section 35(2AB) because the Tribunal applied judicial consistency and held that the Assessing Officer could not disregard the certified R&D expenditure without following the statutory procedure. It also sustained deletion of manufacturing-expense and R&D additions made on post-survey extrapolation, finding no abnormality in the expense ratio and no rebuttal of the factual findings. As those disallowances failed on merits, the reassessment based on the same grounds was held invalid. For the later year, interest disallowance linked to a loan treated as unexplained cash credit was deleted once that underlying addition no longer survived, while other claims were sent back for factual verification.
DSIR certification supported deduction under section 35(2AB) because the Tribunal applied judicial consistency and held that the Assessing Officer could not disregard the certified R&D expenditure without following the statutory procedure. It also sustained deletion of manufacturing-expense and R&D additions made on post-survey extrapolation, finding no abnormality in the expense ratio and no rebuttal of the factual findings. As those disallowances failed on merits, the reassessment based on the same grounds was held invalid. For the later year, interest disallowance linked to a loan treated as unexplained cash credit was deleted once that underlying addition no longer survived, while other claims were sent back for factual verification.
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