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 appellant's appeal is dismissed for failure to comply with statutory preconditions for duty drawback. The Tribunal found non-fulfilment of Rule 4(a) and, critically, Rule 5 of the Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995; the latter breach is fatal and precludes grant of drawback. While conversion of a free shipping bill to a drawback shipping bill may be directed where only Rule 4(a) is contravened, no relief is available here and there is no statutory mechanism to condone non-compliance after the twelve-month period. Consequently, the claim for drawback is refused and the appeal stands dismissed.
CESTAT held that the appellant's appeal is dismissed for failure to comply with statutory preconditions for duty drawback. The Tribunal found non-fulfilment of Rule 4(a) and, critically, Rule 5 of the Re-export of Imported Goods (Drawback of Customs Duties) Rules, 1995; the latter breach is fatal and precludes grant of drawback. While conversion of a free shipping bill to a drawback shipping bill may be directed where only Rule 4(a) is contravened, no relief is available here and there is no statutory mechanism to condone non-compliance after the twelve-month period. Consequently, the claim for drawback is refused and the appeal stands dismissed.
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