Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
HC quashed the impugned reopening and notices under Secs. 147/148, holding that no escapement of income occurred in the return for AY 2014-15 and that subsequent events (JDA) could only trigger recomputation/amendment under Sec. 155(7B) and withdrawal of exemption under Sec. 47A - not assessment reopening. The court found the transferee consistently treated and paid tax on the asset as a capital asset; Revenue cannot adopt a contrary stance in respect of the transferor to classify the same transaction as stock-in-trade. Rectification under Sec. 154 differs from recomputation under Sec. 155(7B). Proceedings under Sec. 155(7B) were time-barred; relief granted to the transferor.
HC quashed the impugned reopening and notices under Secs. 147/148, holding that no escapement of income occurred in the return for AY 2014-15 and that subsequent events (JDA) could only trigger recomputation/amendment under Sec. 155(7B) and withdrawal of exemption under Sec. 47A - not assessment reopening. The court found the transferee consistently treated and paid tax on the asset as a capital asset; Revenue cannot adopt a contrary stance in respect of the transferor to classify the same transaction as stock-in-trade. Rectification under Sec. 154 differs from recomputation under Sec. 155(7B). Proceedings under Sec. 155(7B) were time-barred; relief granted to the transferor.
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