Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Classification dispute involving imported SVPS Chillers - whether to be classified under CTH 84198940 or not, and eligibility for exemption notification dated 17.03.2012. Held that improper importation provisions u/s 111 of Customs Act apply when goods do not correspond in value or other particulars. Appellants filed Bill of Entry based on import documents, claimed correct classification. Claiming wrong exemption notification alone does not warrant confiscation u/s 111(m). Tribunal relied on precedents holding goods cannot be confiscated merely for erroneous classification or exemption claim if description and value match declaration. Confiscation of goods, redemption fine, and penalty set aside as appellants did not contravene Section 111(m) and (o) at import stage. Appeal allowed.
Classification dispute involving imported SVPS Chillers - whether to be classified under CTH 84198940 or not, and eligibility for exemption notification dated 17.03.2012. Held that improper importation provisions u/s 111 of Customs Act apply when goods do not correspond in value or other particulars. Appellants filed Bill of Entry based on import documents, claimed correct classification. Claiming wrong exemption notification alone does not warrant confiscation u/s 111(m). Tribunal relied on precedents holding goods cannot be confiscated merely for erroneous classification or exemption claim if description and value match declaration. Confiscation of goods, redemption fine, and penalty set aside as appellants did not contravene Section 111(m) and (o) at import stage. Appeal allowed.
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