Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
A customs broker penalty dispute turned on whether a medicine exported as MIGRAN, containing Ergotamine, fell within Schedule-B and required a Narcotic Commissioner NOC. The Tribunal held that Schedule-B covered only Ergotamine and its salts, not preparations containing it, so the NOC-based penalty could not stand. It also found that knowledge of undeclared additional medicine could not fairly be attributed to the broker on the facts, given the exporter's stated ignorance and the technical uncertainty surrounding the product. In any event, it held that the residuary penalty under Section 117 was unavailable where the CBLR contained a specific penalty provision, and it set aside the penalty order.
A customs broker penalty dispute turned on whether a medicine exported as MIGRAN, containing Ergotamine, fell within Schedule-B and required a Narcotic Commissioner NOC. The Tribunal held that Schedule-B covered only Ergotamine and its salts, not preparations containing it, so the NOC-based penalty could not stand. It also found that knowledge of undeclared additional medicine could not fairly be attributed to the broker on the facts, given the exporter's stated ignorance and the technical uncertainty surrounding the product. In any event, it held that the residuary penalty under Section 117 was unavailable where the CBLR contained a specific penalty provision, and it set aside the penalty order.
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