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...
The Kerala HC held that the denial of amendment of 4 shipping bills from Advance Authorisation Scheme to Duty Drawback Scheme solely on the ground of time bar of 3 months from LEO date as per Circular 36/2010-Cus is untenable. Section 149 of the Customs Act, 1962 allows prescribing time limit by regulations. The Shipping Bill (Post Export Conversion) Regulations, 2022 provide 2 years for conversion. Rejecting conversion on time bar is unsustainable. The appeal by the assessee is allowed.
The Kerala HC held that the denial of amendment of 4 shipping bills from Advance Authorisation Scheme to Duty Drawback Scheme solely on the ground of time bar of 3 months from LEO date as per Circular 36/2010-Cus is untenable. Section 149 of the Customs Act, 1962 allows prescribing time limit by regulations. The Shipping Bill (Post Export Conversion) Regulations, 2022 provide 2 years for conversion. Rejecting conversion on time bar is unsustainable. The appeal by the assessee is allowed.
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