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...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Liability to pay interest upon finalization of provisional assessment prior to insertion of sub-section (3) in Section 18 of the Customs Act, 1962 - The CESTAT analyzed Section 18(3) of the Customs Act, which imposes interest liability on the importer or exporter upon final assessment order. However, this provision was inserted after the provisional assessment in question.The Tribunal cited legal principles stating that legislation is prospective unless expressly made retrospective. Previous cases and statutory interpretations affirmed this principle.It was concluded that the amendment to Section 18 was substantive and not clarificatory, thus lacking retrospective applicability.
Liability to pay interest upon finalization of provisional assessment prior to insertion of sub-section (3) in Section 18 of the Customs Act, 1962 - The CESTAT analyzed Section 18(3) of the Customs Act, which imposes interest liability on the importer or exporter upon final assessment order. However, this provision was inserted after the provisional assessment in question.The Tribunal cited legal principles stating that legislation is prospective unless expressly made retrospective. Previous cases and statutory interpretations affirmed this principle.It was concluded that the amendment to Section 18 was substantive and not clarificatory, thus lacking retrospective applicability.
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