Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
CESTAT dismissed revenue's appeals regarding Target Plus Scheme (TPS) utilization. The tribunal found that imported plastic granules had a legitimate nexus with ready-made garment exports, as confirmed by DGFT's acceptance of license conditions. The court emphasized that imported goods under TPS must be for actual use by importers or supporting manufacturers. The decision aligned with precedent in similar cases, specifically referencing a prior ruling involving Sunstar Overseas Ltd. The tribunal validated the assessee's compliance with TPS and Foreign Trade Policy (FTP) requirements, consequently rejecting revenue's proposed proceedings and upholding the original license benefits.
CESTAT dismissed revenue's appeals regarding Target Plus Scheme (TPS) utilization. The tribunal found that imported plastic granules had a legitimate nexus with ready-made garment exports, as confirmed by DGFT's acceptance of license conditions. The court emphasized that imported goods under TPS must be for actual use by importers or supporting manufacturers. The decision aligned with precedent in similar cases, specifically referencing a prior ruling involving Sunstar Overseas Ltd. The tribunal validated the assessee's compliance with TPS and Foreign Trade Policy (FTP) requirements, consequently rejecting revenue's proposed proceedings and upholding the original license benefits.
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