Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
The customs prohibition on direct or indirect import and transit applies to goods entering India solely for onward transhipment because they retain their character as imported goods until clearance for home consumption. Domestic customs law governs where it directly regulates import and transit; the India-Nepal transhipment treaty does not displace a prohibition and preserves measures concerning prohibited imports and security interests. DRI officers have all-India jurisdiction and may inspect a consignment at its first Indian port of arrival. Conflicting documents and bag labels concerning origin require determination through statutory procedures, and a composite consignment should not be bifurcated pending that determination.
The customs prohibition on direct or indirect import and transit applies to goods entering India solely for onward transhipment because they retain their character as imported goods until clearance for home consumption. Domestic customs law governs where it directly regulates import and transit; the India-Nepal transhipment treaty does not displace a prohibition and preserves measures concerning prohibited imports and security interests. DRI officers have all-India jurisdiction and may inspect a consignment at its first Indian port of arrival. Conflicting documents and bag labels concerning origin require determination through statutory procedures, and a composite consignment should not be bifurcated pending that determination.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
