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...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Customs exemption for imported inputs used by a 100% Export Oriented Unit extends under Notification No. 52/2003-Cus. to waste and scrap generated during manufacture. The controlling condition is that the imported goods are used to manufacture finished goods. Waste exceeding prescribed norms does not by itself defeat exemption where it is not removed without permission and is cleared on payment of applicable duty. The High Court found no legal infirmity in deletion of the customs-duty demand and dismissed the tax appeal, holding that no substantial question of law arose.
Customs exemption for imported inputs used by a 100% Export Oriented Unit extends under Notification No. 52/2003-Cus. to waste and scrap generated during manufacture. The controlling condition is that the imported goods are used to manufacture finished goods. Waste exceeding prescribed norms does not by itself defeat exemption where it is not removed without permission and is cleared on payment of applicable duty. The High Court found no legal infirmity in deletion of the customs-duty demand and dismissed the tax appeal, holding that no substantial question of law arose.
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