Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
EPCG exemption for second-hand textile machinery was upheld where the importer held a valid DGFT authorisation, the customs notification contained no year-of-manufacture restriction, and there was no evidence that the notification's conditions were otherwise breached. Fulfilment of the export obligation and redemption of the EPCG licence showed compliance with the scheme. A vintage restriction could not be imported by linking the case to the TUF Scheme, so the duty demand, interest and consequential penalties, including the Director's penalty, were set aside.
EPCG exemption for second-hand textile machinery was upheld where the importer held a valid DGFT authorisation, the customs notification contained no year-of-manufacture restriction, and there was no evidence that the notification's conditions were otherwise breached. Fulfilment of the export obligation and redemption of the EPCG licence showed compliance with the scheme. A vintage restriction could not be imported by linking the case to the TUF Scheme, so the duty demand, interest and consequential penalties, including the Director's penalty, were set aside.
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