Provided that the exemption shall be available only if importer proves to the satisfaction of the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, that the goods in respect of which the benefit of this exemption is claimed are of the origin of Japan, in terms of rules as may be notified in this regard by Central Government by publication in the official gazette.
MCA draft circular proposes ban on gifts at AGMs, allowing only light refreshments and treating violations as misconduct under corporate governance norms.
Sanjay Gala Vs ITO (ITAT Mumbai)- In the present case, the assessee subscribed to shares in convertible foreign exchange and acquired the foreign exchange asset. In so far as this aspect is concerned, there is no dispute from the revenue authorities.
ADIT Vs Star Cruise India Travel Services (ITAT Mumbai)- In the case of a business of which all the operations are not carried out in India, the income of the business deemed under this clause to accrue or arise in India shall be only such part of the income as is reasonably attributable to the operations carried out in India” but then since no part of the operations was carried out in India, no part of assessee’s income could have been thus taxable in India.
Ravina Khurana Vs CIT (Delhi High Court)- The applicant wants to re-argue and re-agitate the issues/ questions which have been considered and decided by this Court in the decision dated 20th April, 2011. This is not permissible. The review application has no merit and it is accordingly dismissed.
