Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
EPCG conditions may be relaxed where export obligation cannot be fulfilled because of force majeure or other unforeseen circumstances. The Tribunal applied this principle where the importer lost possession and control of the capital goods after auction by lenders before expiry of the first block period, making performance impossible, and held that interest under the notification and bond could not be levied; the demand had also been effectively secured through bank guarantees already realised. On the same facts, confiscation under section 111(o) and penalty under section 112(a) were set aside because the breach was not deliberate, the goods were no longer under the importer's control, and mens rea was required for penalty. The customs duty demand itself remained undisturbed.
EPCG conditions may be relaxed where export obligation cannot be fulfilled because of force majeure or other unforeseen circumstances. The Tribunal applied this principle where the importer lost possession and control of the capital goods after auction by lenders before expiry of the first block period, making performance impossible, and held that interest under the notification and bond could not be levied; the demand had also been effectively secured through bank guarantees already realised. On the same facts, confiscation under section 111(o) and penalty under section 112(a) were set aside because the breach was not deliberate, the goods were no longer under the importer's control, and mens rea was required for penalty. The customs duty demand itself remained undisturbed.
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