Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
The items Polycril and Sector 130, 140 cannot be treated as raw materials but as consumables, as they do not remain until the final product reaches the end user and are only used for processing without becoming part of the final product. The department was unjustified in treating these items as raw materials. The ratio of the Supreme Court's decision in Commissioner of Customs, Cochin versus GTN Textiles is applicable here, as there is no difference between Notification No. 8/97-CE and Notification No. 23/2003-CE regarding conditions for availing the benefit. The impugned order is set aside, and the appeal is allowed.
The items Polycril and Sector 130, 140 cannot be treated as raw materials but as consumables, as they do not remain until the final product reaches the end user and are only used for processing without becoming part of the final product. The department was unjustified in treating these items as raw materials. The ratio of the Supreme Court's decision in Commissioner of Customs, Cochin versus GTN Textiles is applicable here, as there is no difference between Notification No. 8/97-CE and Notification No. 23/2003-CE regarding conditions for availing the benefit. The impugned order is set aside, and the appeal is allowed.
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