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 held that the imported "Twaron Para Aramid Pulp" constitutes textile flock/dust within CTI 5601 30 00, not wadding under CTI 5601 22 00, and upheld the differential duty with interest accordingly. However, the Tribunal found no evidence of collusion, wilful misstatement or suppression to justify invocation of extended limitation under s.28(4) or imposition of penalty under s.114A; those measures were set aside. The appeals are allowed in part: classification under CTI 5601 30 00 is affirmed, while demands for duty under the extended period and penalties are quashed. Matters are remitted to the adjudicating authorities solely for computation of duty and interest within the normal limitation period.
CESTAT held that the imported "Twaron Para Aramid Pulp" constitutes textile flock/dust within CTI 5601 30 00, not wadding under CTI 5601 22 00, and upheld the differential duty with interest accordingly. However, the Tribunal found no evidence of collusion, wilful misstatement or suppression to justify invocation of extended limitation under s.28(4) or imposition of penalty under s.114A; those measures were set aside. The appeals are allowed in part: classification under CTI 5601 30 00 is affirmed, while demands for duty under the extended period and penalties are quashed. Matters are remitted to the adjudicating authorities solely for computation of duty and interest within the normal limitation period.
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