Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
Rejection of declared FOB value and denial of drawback for readymade garments exported under 63 shipping bills were unsustainable because the proceedings relied exclusively on an investigation into separate March 2017 exports. Export remittances matching the declared FOB value had been received, while departmental costing material did not establish overvaluation. No independent enquiry addressed the 63 shipping bills. Consequently, the demand, FOB-value rejection and penalties were set aside, and the appeal succeeded with consequential relief.
Rejection of declared FOB value and denial of drawback for readymade garments exported under 63 shipping bills were unsustainable because the proceedings relied exclusively on an investigation into separate March 2017 exports. Export remittances matching the declared FOB value had been received, while departmental costing material did not establish overvaluation. No independent enquiry addressed the 63 shipping bills. Consequently, the demand, FOB-value rejection and penalties were set aside, and the appeal succeeded with consequential relief.
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