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...
100% EOU - Cancellation of bonded warehouse licence, letter of permission (LOP) and registration - The Tribunal scrutinized the cancellation of the appellant's bonded warehouse license. It noted that while the license had been canceled retrospectively, the consequences of this cancellation were not addressed as per the Customs Act, 1962. The Tribunal emphasized that the provisions of the Customs Act did not align with the procedures outlined in the Foreign Trade Policy (FTP). It highlighted the lack of statutory reference to support the procedures outlined in the FTP, emphasizing that institutions governed by statute cannot be subordinated to policies. - As a result, the Tribunal set aside the impugned order and remanded the matter to the original authority for a fresh decision in accordance with the law.
100% EOU - Cancellation of bonded warehouse licence, letter of permission (LOP) and registration - The Tribunal scrutinized the cancellation of the appellant's bonded warehouse license. It noted that while the license had been canceled retrospectively, the consequences of this cancellation were not addressed as per the Customs Act, 1962. The Tribunal emphasized that the provisions of the Customs Act did not align with the procedures outlined in the Foreign Trade Policy (FTP). It highlighted the lack of statutory reference to support the procedures outlined in the FTP, emphasizing that institutions governed by statute cannot be subordinated to policies. - As a result, the Tribunal set aside the impugned order and remanded the matter to the original authority for a fresh decision in accordance with the law.
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