Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
CESTAT partially allowed the appeal by the Appellant. The Tribunal held that the warehousing period for the goods expired after 20.03.2020 and, in light of the national limitation extension during the COVID period, the prescribed warehousing period must be adjusted accordingly; consequently the Appellant's claim for remission of customs duty and interest in respect of the balance warehoused goods under s.23, Customs Act, 1962, is sustained and the denial in the impugned order set aside. The levy of duty under s.72(1)(d) is mitigated by remission for the specified goods. A general penalty under s.117 was confirmed but reduced in the interest of justice to Rs.25,000. Appeal allowed in part.
CESTAT partially allowed the appeal by the Appellant. The Tribunal held that the warehousing period for the goods expired after 20.03.2020 and, in light of the national limitation extension during the COVID period, the prescribed warehousing period must be adjusted accordingly; consequently the Appellant's claim for remission of customs duty and interest in respect of the balance warehoused goods under s.23, Customs Act, 1962, is sustained and the denial in the impugned order set aside. The levy of duty under s.72(1)(d) is mitigated by remission for the specified goods. A general penalty under s.117 was confirmed but reduced in the interest of justice to Rs.25,000. Appeal allowed in part.
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