Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Inadvertent availment of common input service credit did not bar the higher rate of duty drawback where the CENVAT credit was reversed with interest before issuance of the show cause notice. Applying Chandrapur Magnet Wires and Precot Meridian, the HC treated the reversal as curing the prior availment for drawback purposes and rejected the argument that the Supreme Court authority lacked binding force. Emphasising the export-promoting object of drawback schemes, the Court held that a hyper-technical objection was unwarranted and set aside the revisional order, holding the exporter entitled to the applicable drawback rate for the relevant period.
Inadvertent availment of common input service credit did not bar the higher rate of duty drawback where the CENVAT credit was reversed with interest before issuance of the show cause notice. Applying Chandrapur Magnet Wires and Precot Meridian, the HC treated the reversal as curing the prior availment for drawback purposes and rejected the argument that the Supreme Court authority lacked binding force. Emphasising the export-promoting object of drawback schemes, the Court held that a hyper-technical objection was unwarranted and set aside the revisional order, holding the exporter entitled to the applicable drawback rate for the relevant period.
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