Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
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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