Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Capital goods intended for use in a warehouse authorised to undertake manufacture or other operations may remain warehoused until clearance under the amended customs framework. Interest on warehoused goods is confined to residuary goods and does not apply to capital goods falling within the specified category. Intended use is determined when the goods are imported and warehoused; actual subsequent use is not required. Solar modules intended for a solar power project retained their character as capital goods despite becoming surplus because of later design and layout changes. A circular concerning clearance for non-manufacturing purposes cannot impose interest where the statute does not provide for it.
Capital goods intended for use in a warehouse authorised to undertake manufacture or other operations may remain warehoused until clearance under the amended customs framework. Interest on warehoused goods is confined to residuary goods and does not apply to capital goods falling within the specified category. Intended use is determined when the goods are imported and warehoused; actual subsequent use is not required. Solar modules intended for a solar power project retained their character as capital goods despite becoming surplus because of later design and layout changes. A circular concerning clearance for non-manufacturing purposes cannot impose interest where the statute does not provide for it.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
