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...
Goods imported into an SEZ for authorised operations remain exempt from customs duty until their removal to the Domestic Tariff Area. The statutory fiction for SEZ-to-DTA removals applies duty treatment equivalent to comparable imports only at the stage of DTA clearance and does not create an earlier liability. Where imported fabric was still to undergo authorised operations in an FTWZ, differential duty on the imported goods could not support a bank-guarantee condition for provisional release. Release may be secured by a bond equal to the goods' value, restricted to authorised FTWZ use, with duty payable when the resultant manufactured goods enter the DTA.
Goods imported into an SEZ for authorised operations remain exempt from customs duty until their removal to the Domestic Tariff Area. The statutory fiction for SEZ-to-DTA removals applies duty treatment equivalent to comparable imports only at the stage of DTA clearance and does not create an earlier liability. Where imported fabric was still to undergo authorised operations in an FTWZ, differential duty on the imported goods could not support a bank-guarantee condition for provisional release. Release may be secured by a bond equal to the goods' value, restricted to authorised FTWZ use, with duty payable when the resultant manufactured goods enter the DTA.
Note: It is a system-generated summary and is for quick reference only.
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