Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Quick lime is classified under the specific tariff entry covering quicklime, slaked lime and hydraulic lime, not under the more general chemical heading for separate chemically defined compounds. The Tribunal noted that the two headings operate in mutually exclusive fields and applied GIR 1 to classify the imported goods as quick lime, holding GIR 3 inapplicable where the goods were not a mixture or combined material. On that basis, the proposed reclassification and demand were rejected and the appeal was allowed.
Quick lime is classified under the specific tariff entry covering quicklime, slaked lime and hydraulic lime, not under the more general chemical heading for separate chemically defined compounds. The Tribunal noted that the two headings operate in mutually exclusive fields and applied GIR 1 to classify the imported goods as quick lime, holding GIR 3 inapplicable where the goods were not a mixture or combined material. On that basis, the proposed reclassification and demand were rejected and the appeal was allowed.
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