Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Food testing kits were held classifiable under CTI 3822 00 90, not CTI 3822 00 19, because they were meant for food testing and not diagnostic use; the importer's claim to exemption under Notification No. 50/2017-Cus for diagnostic test kits therefore failed. The Tribunal also held that describing the goods as "Diagnostic use only" in self-assessment amounted to conscious misdeclaration, justifying invocation of the extended period of limitation. On that basis, the penalties imposed on the importer and its directors were upheld, and the impugned order was sustained in full.
Food testing kits were held classifiable under CTI 3822 00 90, not CTI 3822 00 19, because they were meant for food testing and not diagnostic use; the importer's claim to exemption under Notification No. 50/2017-Cus for diagnostic test kits therefore failed. The Tribunal also held that describing the goods as "Diagnostic use only" in self-assessment amounted to conscious misdeclaration, justifying invocation of the extended period of limitation. On that basis, the penalties imposed on the importer and its directors were upheld, and the impugned order was sustained in full.
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