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 ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
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The CESTAT held that empty cylinders along with valves imported by the Appellant for use in ambulances to carry medical grade oxygen are correctly classifiable under CTH 90189099 as life supporting medical equipment, and not under CTH 73110030 as containers for carrying compressed or liquefied gases. The Tribunal set aside the demand of differential duty on account of re-classification. It held that the imported cylinders are excluded from the purview of Gas Cylinder Rules 2004/2016 and the Explosives Act as they are specifically meant for fitting in ambulances. The Tribunal also set aside the confiscation of goods for alleged violation of these rules. Further, the extended period of limitation invoked by the Department was held unsustainable as there was no suppression of information by the Appellant. Consequently, no penalty was imposable. The appeal was allowed.
The CESTAT held that empty cylinders along with valves imported by the Appellant for use in ambulances to carry medical grade oxygen are correctly classifiable under CTH 90189099 as life supporting medical equipment, and not under CTH 73110030 as containers for carrying compressed or liquefied gases. The Tribunal set aside the demand of differential duty on account of re-classification. It held that the imported cylinders are excluded from the purview of Gas Cylinder Rules 2004/2016 and the Explosives Act as they are specifically meant for fitting in ambulances. The Tribunal also set aside the confiscation of goods for alleged violation of these rules. Further, the extended period of limitation invoked by the Department was held unsustainable as there was no suppression of information by the Appellant. Consequently, no penalty was imposable. The appeal was allowed.
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