Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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Customs Tribunal held that restrictions on import of new vehicles through designated ports under Foreign Trade Policy do not apply to vehicles imported in completely knocked down (CKD) condition. Expression 'motor vehicles' in relevant policy condition includes only completely built units, not CKD condition vehicles. Rule 126 of Central Motor Vehicle Rules requires prototype testing and approval, which is not possible for unassembled CKD vehicles. Relying on Delhi High Court judgment, Tribunal observed that term 'motor vehicle' in policy conditions can only apply to complete vehicles, not CKD or incomplete vehicles. Importing motorcycles in CKD condition through non-designated ICD did not violate any prohibition, hence no confiscation, redemption fine or penalty was imposable. Impugned order set aside, appeal allowed.
Customs Tribunal held that restrictions on import of new vehicles through designated ports under Foreign Trade Policy do not apply to vehicles imported in completely knocked down (CKD) condition. Expression 'motor vehicles' in relevant policy condition includes only completely built units, not CKD condition vehicles. Rule 126 of Central Motor Vehicle Rules requires prototype testing and approval, which is not possible for unassembled CKD vehicles. Relying on Delhi High Court judgment, Tribunal observed that term 'motor vehicle' in policy conditions can only apply to complete vehicles, not CKD or incomplete vehicles. Importing motorcycles in CKD condition through non-designated ICD did not violate any prohibition, hence no confiscation, redemption fine or penalty was imposable. Impugned order set aside, appeal allowed.
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