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    Customs exemption for EOU manufacturing inputs survives excess waste when authorised clearance occurs on payment of applicable duty.
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    Bill of entry amendment remains available where loss evidence predates final clearance for home consumption after provisional assessment.
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    Input tax credit reversal verification required fresh GST demand adjudication, subject to pre-deposit and adjustment of substantiated payments.
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      Benami Property

      The appeal challenges the attachment order of gold and silver...

      Appeal Dismissed: Court Upholds Attachment of Gold and Silver, Citing Misleading Actions and Lack of Ownership Disclosure.

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      Benami PropertyNovember 14, 2024Case LawsAT
      The appeal challenges the attachment order of gold and silver articles from lockers, questioning the identification of beneficial locker holders under the Prohibition of Benami Property Transactions Act. The court held that the conduct of the parties, particularly the Safe Vault Private Limited (SVPL), which failed to disclose the true ownership and delayed changing the name despite requests, speaks for itself. The SVPL's excuse of a bona fide mistake was unacceptable, and they were equally responsible for the benami transaction by not adhering to KYC norms. The appellant failed to disclose the source of acquisition of gold and silver, and the SVPL and appellant were hand in glove to mislead the respondent. The court found no violation of Section 24(1) of the Act, as notice was given to Shiv Daga, and the appellant had ample opportunity to present their case. Consequently, the appeal was dismissed.

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      ActsIncome Tax