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...
Furnace re-lining refractory materials qualify as capital goods under the zero-duty EPCG Scheme when used as accessories indirectly required for manufacture. The specific inclusion of refractories for initial furnace lining in the inclusive definition does not restrict the broader substantive definition covering such accessories. Refractories imported for furnace re-lining and maintenance are therefore eligible for zero-duty import benefits. Differential duty, interest, penalty, confiscation and redemption fine imposed on that basis were set aside, with consequential relief.
Furnace re-lining refractory materials qualify as capital goods under the zero-duty EPCG Scheme when used as accessories indirectly required for manufacture. The specific inclusion of refractories for initial furnace lining in the inclusive definition does not restrict the broader substantive definition covering such accessories. Refractories imported for furnace re-lining and maintenance are therefore eligible for zero-duty import benefits. Differential duty, interest, penalty, confiscation and redemption fine imposed on that basis were set aside, with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4910 
