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Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The SC allowed the appeal and restored the petition to the HC, directing it to adjudicate afresh in line with the precedent set in M/s Safari Retreats Pvt Ltd. The HC had previously denied ITC on the breakwater, holding it was not "plant and machinery" used for outward supply. The SC's order implies reconsideration of ITC eligibility regarding the breakwater's classification and its use in supply chain activities.
The SC allowed the appeal and restored the petition to the HC, directing it to adjudicate afresh in line with the precedent set in M/s Safari Retreats Pvt Ltd. The HC had previously denied ITC on the breakwater, holding it was not "plant and machinery" used for outward supply. The SC's order implies reconsideration of ITC eligibility regarding the breakwater's classification and its use in supply chain activities.
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