Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
A bona fide transferee of a duty-free licence re-registered in the customs system was held not liable for customs duty merely because the licence was later alleged to have been fraudulently re-registered. The Tribunal distinguished an existing licence that had been re-registered from a fake or forged licence, and applied the principle that a purchaser for value cannot be denied benefit where the licence was validly in circulation and acted upon during its validity. It also held that the extended period was unavailable because the notice relied only on an alleged failure to verify the licence, without any misrepresentation, collusion, or suppression by the purchaser. The demand and impugned order were set aside.
A bona fide transferee of a duty-free licence re-registered in the customs system was held not liable for customs duty merely because the licence was later alleged to have been fraudulently re-registered. The Tribunal distinguished an existing licence that had been re-registered from a fake or forged licence, and applied the principle that a purchaser for value cannot be denied benefit where the licence was validly in circulation and acted upon during its validity. It also held that the extended period was unavailable because the notice relied only on an alleged failure to verify the licence, without any misrepresentation, collusion, or suppression by the purchaser. The demand and impugned order were set aside.
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