Tax Management India

Digital signature requirement for e-proceedings assessments: manually signed order held invalid and assessment quashed. - Where scrutiny assessment is completed through the e-proceedings mechanism, the... taxtmi.com/highlights?id=… #Digitalsignature #Eproceedings #Assessmentvalidity

Gratuity deduction under section 43B allowed where audited records and supporting ledgers proved actual payment. - Deduction for gratuity actually paid under section 43B was allowed because the assessee subs... taxtmi.com/highlights?id=… #Gratuitydeduction #Actualpayment #Section43b

TNMM comparability requires idle capacity and working capital adjustments to reflect ramp-up conditions and actual operating cycle. - Under TNMM, comparability must reflect functional, asset and risk differ... taxtmi.com/highlights?id=… #Tnmm #Transferpricing #Idlecapacityadjustment

Limitation barred customs enforcement of a continuing exemption condition, making confiscation and consequential penalty unsustainable. - Proceedings to enforce a post-import exemption cond... taxtmi.com/highlights?id=… #Customslimitation #Continuingobligation #Exemptionnotification

Limitation bars customs penalty despite rescinded exemption notification where show cause notice was issued beyond the statutory period. - The HC held that a post-import obligation under an ... taxtmi.com/highlights?id=… #Customslimitation #Exemptionnotification #Confiscationpenalty

Exemption notification conditions cannot be expanded by DGH certificate terms; SEZ clearance after use treated as export. - The exemption under Notification No. 21/2002 could not be denied merely because the... taxtmi.com/highlights?id=… #Exemptionnotification #Sezexport #Customslaw

Liquidation abates pending appeal when no continuation application is filed by the official liquidator under Rule 22. - A pending appeal abated because the appellant company had been ordered i... taxtmi.com/highlights?id=… #Liquidationproceedings #Appealabatement #Officialliquidator

Classification of clear float glass with absorbent layer follows binding precedent, supporting exemption and remand for fresh adjudication. - Clear float glass with an absorbent, non-reflect... taxtmi.com/highlights?id=… #Customsclassification #Judicialdiscipline #Denovoadjudication

Advance ruling barred by pending classification dispute; end use could not override tariff-based classification of Lithium Ion Cells. - An advance ruling application is not maintainable where the same c... taxtmi.com/highlights?id=… #Advanceruling #Customsclassification #Pendencybar

Advance ruling on ongoing imports upheld; EV communication controllers classified under CTI 8517 62 90, but origin-based duty benefit denied. - An advance ruling may be sought for ongoing import activi... taxtmi.com/highlights?id=… #Advanceruling #Tariffclassification #Rulesoforigin

Liquidation sale prevails over belated VAT claims; statutory charge alone does not create secured creditor status under insolvency law. - A VAT attachment could not survive a liquidation sale where t... taxtmi.com/highlights?id=… #Insolvencylaw #Liquidationwaterfall #Statutorycharge

GSTAT Pre-Deposit Under Section 112(8) of the CGST Act: Whether ECL Is a Permissible Mode After Yasho Industries, the Re-Credit Vacuum When Appeal Succeeds, and Compliance Risks for Backlog Appellants - ... taxtmi.com/article/detail… #Electroniccreditledger #Predeposit #Gstatappeals

Deposit of tax during search or investigation cannot be treated as ‘voluntary payment’ - Deposit of tax during search, inspection or investigation cannot automatically be treated as voluntary payme... taxtmi.com/article/detail… #Voluntarypayment #Gstinvestigation #Coercionallegation

WHEN NOT TO LITIGATE - A LESSON FROM THE SUPREME COURT - Binding GST litigation policy issued through a CBIC circular directs that appeals should not be filed or pursued where the tax effect falls below prescribe... taxtmi.com/article/detail… #Gstlitigation #Taxpolicy #Monetarylimit

Regulated Chemicals in International Trade: Import, Export and Compliance - A Legal and Professional Analysis - Import and export of regulated chemicals are governed by a multi-layered compliance regime u... taxtmi.com/article/detail… #Chemicaltrade #Importcompliance #Exportcontrols

Date of transfer of capital asset is the date of transfer of Possession and not the date of the development agreement or advance [Sec 2(47) of ITA'61 - Sec 2(109) of ITA'25] - Capital gains under s... taxtmi.com/article/detail… #Capitalgains #Transferofproperty #Developmentagreement

GST - SCOPE OF SECTION 130 FOR DISCREPANCY IN STOCK - Excess stock found during inspection, search or survey is to be treated as unaccounted goods under the GST accounting and tax determination scheme, not through con... taxtmi.com/article/detail… #Gst #Excessstock #Taxdetermination

Clubbing of Advance Authorisation: Legal Provisions, Procedures, Forms, Fees and Institutional Mechanism (Comprehensive Analysis under FTP & HBP 2023) - Clubbing of Advance Authorisations is a procedural... taxtmi.com/article/detail… #Advanceauthorisation #Clubbing #Exportobligation

High Seas Sale not speculative [Sec 43(5) of ITA'61 - Sec 66(31) of ITA'25] - High seas sale transactions are non-speculative where the goods are actually delivered to the purchaser and the transfer is supp... taxtmi.com/article/detail… #Highseassale #Nonspeculative #Deliveryofgoods

Clarification on Warehousing of Chemicals under FTP 2023: A Comprehensive Analysis - The policy circular clarifies that Para 2.36(a) of the Foreign Trade Policy 2023 permits warehousing of indu... taxtmi.com/article/detail… #Bondedwarehousing #Industrialchemicals #Foreigntradepolicy