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...
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
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