Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate Tribunal examined the issue of conversion of shipping bills from drawback scheme to advance license scheme. It held that there is no time limitation prescribed u/s 149 of the Customs Act, 1962 for such conversion, relying on the Gujarat High Court judgment in Principal Commissioner of Customs, Mundra vs. M/s Lykis Limited. The Tribunal set aside the impugned order denying conversion on the ground of time bar and remanded the matter to the adjudicating authority to consider the request for conversion from drawback scheme to advance license on merits.
Appellate Tribunal examined the issue of conversion of shipping bills from drawback scheme to advance license scheme. It held that there is no time limitation prescribed u/s 149 of the Customs Act, 1962 for such conversion, relying on the Gujarat High Court judgment in Principal Commissioner of Customs, Mundra vs. M/s Lykis Limited. The Tribunal set aside the impugned order denying conversion on the ground of time bar and remanded the matter to the adjudicating authority to consider the request for conversion from drawback scheme to advance license on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
