Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Imported material diverted to unit other than permitted unit, resulting in contravention of import-export policy provisions. Goods held liable for confiscation u/s 111 and importer penalized u/s 112 of Customs Act. Appellant claimed permission for Wada unit valid for Panipat unit, refuted by Ministry's clarification. Confiscation and penalty upheld, but redemption fine reduced to Rs.3 lakhs and penalty to Rs.2 lakhs considering total value of Rs.22 lakhs. Appellate Tribunal's order regarding diversion of imported goods to unauthorized unit and consequent penalties.
Imported material diverted to unit other than permitted unit, resulting in contravention of import-export policy provisions. Goods held liable for confiscation u/s 111 and importer penalized u/s 112 of Customs Act. Appellant claimed permission for Wada unit valid for Panipat unit, refuted by Ministry's clarification. Confiscation and penalty upheld, but redemption fine reduced to Rs.3 lakhs and penalty to Rs.2 lakhs considering total value of Rs.22 lakhs. Appellate Tribunal's order regarding diversion of imported goods to unauthorized unit and consequent penalties.
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