Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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...
Residual customs penalty provisions apply only where a contravention, abetment, or statutory non-compliance is established and no separate penalty is prescribed. Penalty discretion must be exercised reasonably, rationally, and proportionately; it cannot justify a mechanical maximum penalty where a bona fide re-export request, unobjectionable goods, unavailable transport, and required no-objections reveal no identified breach. The penalty was therefore set aside. Detention and demurrage arising from Customs-attributable delay in permitting re-export cannot fairly be imposed on the importer or exporter after compliance with re-export conditions. A waiver certificate was directed for charges accruing until the let export order became available.
Residual customs penalty provisions apply only where a contravention, abetment, or statutory non-compliance is established and no separate penalty is prescribed. Penalty discretion must be exercised reasonably, rationally, and proportionately; it cannot justify a mechanical maximum penalty where a bona fide re-export request, unobjectionable goods, unavailable transport, and required no-objections reveal no identified breach. The penalty was therefore set aside. Detention and demurrage arising from Customs-attributable delay in permitting re-export cannot fairly be imposed on the importer or exporter after compliance with re-export conditions. A waiver certificate was directed for charges accruing until the let export order became available.
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