Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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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