Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Rebate under section 87A was held available for Assessment Year 2024-25 to a resident individual opting for the new tax regime, even where total income included short-term capital gains taxed under section 111A. The Tribunal followed a co-ordinate Bench view on identical facts and accepted that, for that year, there was no express statutory bar in section 87A or section 111A denying rebate if the prescribed income threshold was satisfied. The later amendment was treated as prospective, so it did not apply to the year in question. Accordingly, the processing adjustment denying the rebate was deleted and the rebate claim was allowed.
Rebate under section 87A was held available for Assessment Year 2024-25 to a resident individual opting for the new tax regime, even where total income included short-term capital gains taxed under section 111A. The Tribunal followed a co-ordinate Bench view on identical facts and accepted that, for that year, there was no express statutory bar in section 87A or section 111A denying rebate if the prescribed income threshold was satisfied. The later amendment was treated as prospective, so it did not apply to the year in question. Accordingly, the processing adjustment denying the rebate was deleted and the rebate claim was allowed.
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