Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
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HC allowed appellant's appeal, quashing the Single Judge's order denying customs exemption under Notification No.153/93/Cus for Software Technology Park imports. Despite Revenue's contention that "prior permission" from Deputy Commissioner of Commercial Taxes was mandatory, HC applied doctrine of substantial compliance, finding appellant had substantially met notification requirements. Court distinguished between procedural versus substantive conditions, noting inter-departmental delays cannot deny legitimate exemption benefits. Appellant had timely applied for permissions, imported telematic equipment within prescribed monetary limits, and utilized goods for 100% export-oriented software development as intended by notification. HC emphasized legislative intent to promote foreign exchange earnings through exports should not be frustrated by technical objections when substantive compliance achieved.
HC allowed appellant's appeal, quashing the Single Judge's order denying customs exemption under Notification No.153/93/Cus for Software Technology Park imports. Despite Revenue's contention that "prior permission" from Deputy Commissioner of Commercial Taxes was mandatory, HC applied doctrine of substantial compliance, finding appellant had substantially met notification requirements. Court distinguished between procedural versus substantive conditions, noting inter-departmental delays cannot deny legitimate exemption benefits. Appellant had timely applied for permissions, imported telematic equipment within prescribed monetary limits, and utilized goods for 100% export-oriented software development as intended by notification. HC emphasized legislative intent to promote foreign exchange earnings through exports should not be frustrated by technical objections when substantive compliance achieved.
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