Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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Conditions for provisional release of seized imported commercial goods were held excessive once the differential duty and interest were already secured. The Tribunal noted that the goods were not prohibited and were intended for further manufacture; in one matter, a cash deposit exceeded the secured amount, and in the other, a bond for full value with bank guarantee covering the differential duty and interest had already been furnished and release had followed. It held that revenue interest stood adequately protected, so further insistence was beyond reasonable limits. The release terms were modified and release of the seized goods was directed on execution of a bond for full value.
Conditions for provisional release of seized imported commercial goods were held excessive once the differential duty and interest were already secured. The Tribunal noted that the goods were not prohibited and were intended for further manufacture; in one matter, a cash deposit exceeded the secured amount, and in the other, a bond for full value with bank guarantee covering the differential duty and interest had already been furnished and release had followed. It held that revenue interest stood adequately protected, so further insistence was beyond reasonable limits. The release terms were modified and release of the seized goods was directed on execution of a bond for full value.
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