Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
The Appellate Tribunal considered the conversion of free Shipping Bills into drawback Shipping Bills u/s 149 of Customs Act. It clarified that goods funded by KOICA for export to aid Nepal post-earthquake fall under specific categories of Notification 208/1977-Cus. The Adjudicating Authority erred in categorizing the goods under a different provision that required payment in Indian currency, which was not the case here. The Tribunal directed the Authority to modify the Shipping Bills to enable the Appellants to claim drawbacks. Appeal allowed.
The Appellate Tribunal considered the conversion of free Shipping Bills into drawback Shipping Bills u/s 149 of Customs Act. It clarified that goods funded by KOICA for export to aid Nepal post-earthquake fall under specific categories of Notification 208/1977-Cus. The Adjudicating Authority erred in categorizing the goods under a different provision that required payment in Indian currency, which was not the case here. The Tribunal directed the Authority to modify the Shipping Bills to enable the Appellants to claim drawbacks. Appeal allowed.
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