Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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...
Extended limitation for a customs demand was not available where the show cause notice was issued beyond the normal period and the dispute concerned a technical claim for notification benefit; mere claim of misclassification or benefit under the notification did not amount to suppression or wilful misstatement when the imports as CKD condition were disclosed in the Bills of Entry and invoices. Differential duty could not be recovered by reopening self-assessed Bills of Entry without first challenging that assessment. Redemption fine also failed because the goods had already been cleared and were not available for confiscation. With the principal demand unsustainable, interest and penalty were likewise set aside.
Extended limitation for a customs demand was not available where the show cause notice was issued beyond the normal period and the dispute concerned a technical claim for notification benefit; mere claim of misclassification or benefit under the notification did not amount to suppression or wilful misstatement when the imports as CKD condition were disclosed in the Bills of Entry and invoices. Differential duty could not be recovered by reopening self-assessed Bills of Entry without first challenging that assessment. Redemption fine also failed because the goods had already been cleared and were not available for confiscation. With the principal demand unsustainable, interest and penalty were likewise set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
