Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
HC held that the 1% Extra Duty Deposit (EDD) constitutes a security deposit, not a customs duty under Section 2(15). The refund claim by the importer is valid and not time-barred. Relying on precedents from multiple High Courts, the court determined that withholding the EDD would result in unjust enrichment. The Appellant-Revenue is mandated to refund the entire deposited amount within 12 weeks, with statutory interest calculated from the re-deposit date until actual payment. The appeal was consequently dismissed, affirming the importer's right to recover the security deposit.
HC held that the 1% Extra Duty Deposit (EDD) constitutes a security deposit, not a customs duty under Section 2(15). The refund claim by the importer is valid and not time-barred. Relying on precedents from multiple High Courts, the court determined that withholding the EDD would result in unjust enrichment. The Appellant-Revenue is mandated to refund the entire deposited amount within 12 weeks, with statutory interest calculated from the re-deposit date until actual payment. The appeal was consequently dismissed, affirming the importer's right to recover the security deposit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
