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 ...
Status Holder Incentive Scrip customs-duty exemption extends to thermic fluids treated as capital goods where they are initially charged into a manufacturing plant and directly support its operation. The definition of capital goods under the Foreign Trade Policy and the exemption notification covers plant, machinery, equipment and accessories required directly or indirectly for manufacture, including specified goods for initial charge. Thermic fluids supplying high-temperature heat at low pressure for continuous polycondensation form part of the plant because they are essential to polyester manufacture. Classification as chemicals or treatment as inputs under SION does not displace their functional character as capital goods.
Status Holder Incentive Scrip customs-duty exemption extends to thermic fluids treated as capital goods where they are initially charged into a manufacturing plant and directly support its operation. The definition of capital goods under the Foreign Trade Policy and the exemption notification covers plant, machinery, equipment and accessories required directly or indirectly for manufacture, including specified goods for initial charge. Thermic fluids supplying high-temperature heat at low pressure for continuous polycondensation form part of the plant because they are essential to polyester manufacture. Classification as chemicals or treatment as inputs under SION does not displace their functional character as capital goods.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
