Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Extended limitation for customs duty under Section 28(4) requires material showing collusion, wilful misstatement or suppression causing short-payment; a subsequent departmental view on classification or exemption is insufficient. Disclosure of the goods description, classification and exemption claim in the Bill of Entry, accepted by the proper officer, did not establish concealment, false declaration or deliberate suppression to evade differential IGST on imported rice bran. The demand was therefore set aside without determining the correct classification or IGST liability, while preserving timely action permitted by law. Writ jurisdiction remains available despite a statutory appeal where extended-period jurisdictional conditions are unmet.
Extended limitation for customs duty under Section 28(4) requires material showing collusion, wilful misstatement or suppression causing short-payment; a subsequent departmental view on classification or exemption is insufficient. Disclosure of the goods description, classification and exemption claim in the Bill of Entry, accepted by the proper officer, did not establish concealment, false declaration or deliberate suppression to evade differential IGST on imported rice bran. The demand was therefore set aside without determining the correct classification or IGST liability, while preserving timely action permitted by law. Writ jurisdiction remains available despite a statutory appeal where extended-period jurisdictional conditions are unmet.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
