Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Value addition - Duty-free import of gold - Replenishment of gold under the ‘replenishment scheme’ from DIL against export of gold jewellery - The tribunal concluded that the manufacturing process was indeed fully mechanized, dismissing the department's claim of a semi-mechanized process. This determination was crucial as it affected the applicable wastage norms and minimum value addition required under the FTP. - Regarding Value Addition Calculation, the tribunal, referencing FTP provisions and clarifications from the Director-General of Foreign Trade (DGFT), sided with the appellants. It was held that the calculation method adopted by the department was incorrect, and the appellants had indeed met the value addition criteria as per the correct interpretation of FTP guidelines.
Value addition - Duty-free import of gold - Replenishment of gold under the ‘replenishment scheme’ from DIL against export of gold jewellery - The tribunal concluded that the manufacturing process was indeed fully mechanized, dismissing the department's claim of a semi-mechanized process. This determination was crucial as it affected the applicable wastage norms and minimum value addition required under the FTP. - Regarding Value Addition Calculation, the tribunal, referencing FTP provisions and clarifications from the Director-General of Foreign Trade (DGFT), sided with the appellants. It was held that the calculation method adopted by the department was incorrect, and the appellants had indeed met the value addition criteria as per the correct interpretation of FTP guidelines.
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