ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
CESTAT held that the imported product, described in the Bills of Entry and supporting documents as "LPGbutane," is correctly classifiable as a mixture of propane and butane under heading 2711 1300, since butane predominates up to 98%. The contention of the appellant-importer that LPG cannot be imported as such and is always in the form of propane, butane, or their mixture was rejected, particularly in light of subsequent exemptions specifically extending to LPG, liquefied propane, liquefied butane, and their mixtures, evidencing distinct tariff treatment. Consequently, the benefit of Sl. No. 75(E) of Customs N/N. 21/2002 and Sl. No. 10 of Central Excise N/N. 4/2005 was denied, and the appeal was dismissed.
CESTAT held that the imported product, described in the Bills of Entry and supporting documents as "LPGbutane," is correctly classifiable as a mixture of propane and butane under heading 2711 1300, since butane predominates up to 98%. The contention of the appellant-importer that LPG cannot be imported as such and is always in the form of propane, butane, or their mixture was rejected, particularly in light of subsequent exemptions specifically extending to LPG, liquefied propane, liquefied butane, and their mixtures, evidencing distinct tariff treatment. Consequently, the benefit of Sl. No. 75(E) of Customs N/N. 21/2002 and Sl. No. 10 of Central Excise N/N. 4/2005 was denied, and the appeal was dismissed.
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