Accrual of Income - entitlement to make duty free imports of raw ...

Duty-Free Imports from Advance Licenses & Pass Books Count as Income in Import Year for Export Obligations.

October 10, 2013

Case Laws Income Tax SC

Accrual of Income - entitlement to make duty free imports of raw materials obtained by the assessee through advance licences and duty entitlement pass book issued against export obligations is an income of year in which the import is made - SC

View Source

← Previous Next →

Accrual of Income - entitlement to make duty free imports of raw ...

Duty-Free Imports from Advance Licenses & Pass Books Count as Income in Import Year for Export Obligations.

October 10, 2013

Case Laws Income Tax SC

You may also like:

Accrual of income - Taxability of advance license benefit receivable - assessee could not contend while filing the return of income that such income should not be...

Accrual of income - Income from advance license benefit - income does not accrue in the year of export but in the year in which the imports are made - HC

Duty Free Import Authorization (DFIA) Scheme - If the applicant is aggrieved by the application of the Duty Free Import Authorization Scheme to the parties like the...

Import of goods against advance license - DTA clearance of finished goods - respondent has first exported the goods. Against the said export, the respondent obtained...

Duty Drawback - Advance Licences for Duty-free import of goods - drawback for 50% of FOB value - The benefit of Section 75 ibid namely the drawback should be allowed of...

Notification 38/2024 Customs extends the duration for export of aircraft and vessels imported for maintenance, repair and overhauling from 6 months to 1 year, further...

Extended period of limitation - Benefit of notification - disposal of goods imported against Duty Free Import Authorizations Licence (DFIA) - export obligation was met -...

Legality of import of ‘wheat gluten amygluten 160’ - production of ‘duty-free import authorization (DFIA)’ licenses, permitting import of ‘flour’ for the manufacture of...

Availment of exemption under Advance License Scheme - Classification of imported goods - goods imported by the appellant qualifies as crude iodine, hence eligible for...

Entitlement of benefit - import against Advance Licence as Actual user manufacturer-exporter - it misused the advance licence and contravened the Customs Notification...

Confiscation of goods - Goods imported under advance license - Act of fraud established - AT

This public notice amends Appendix 2Y of the Foreign Trade Policy 2023 to exempt goods imported under Advance Authorisation, EOU, and SEZ schemes from mandatory Quality...

Customs broker licence revocation - importer engaged appellant to file import bill of entry but appellant used another broker's credentials instead of its own - imported...

Retrospective exemption granted from payment of any customs duty on import of "Rough diamonds (industrial or non-industrial)" for the period 1.7.2017 to 1.2.2022....

Advance Licence scheme - Imposition of penalty - suspension of the IEC - The petitioner has not availed any benefit under the Advance Licence Scheme. Once the petitioner...

Quick Updates: