Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Duty-free inputs common to finished goods and capital goods may be used for captive manufacture within a 100% Export Oriented Unit where capital goods are accounted for and bonded. Liability arises if those capital goods are cleared outside the unit, or upon debonding or exit from the scheme. The admitted application of this clarification resolved the dispute over inputs used in such manufacture, resulting in quashing of the seizure memoranda and show-cause notice, refund of deposits, and cancellation of the bank guarantee. Interest on the refund remained open for determination in accordance with law.
Duty-free inputs common to finished goods and capital goods may be used for captive manufacture within a 100% Export Oriented Unit where capital goods are accounted for and bonded. Liability arises if those capital goods are cleared outside the unit, or upon debonding or exit from the scheme. The admitted application of this clarification resolved the dispute over inputs used in such manufacture, resulting in quashing of the seizure memoranda and show-cause notice, refund of deposits, and cancellation of the bank guarantee. Interest on the refund remained open for determination in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
