Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
CESTAT held that the customs authorities could not deny the preferential rate of duty under N/N. 46/2011-Cus. solely on the basis of an FTA Cell letter alleging that the relevant Certificate of Origin was "inauthentic," without producing the underlying verification report. In absence of this primary document, the conclusion of inauthenticity was treated as hearsay and legally unsustainable. Further, earlier imports under six separate Bills of Entry, supported by different Certificates of Origin, could not be discredited merely by association with the disputed certificate, especially when their assessments had attained finality and were never challenged. Consequently, CESTAT set aside the confirmed demands, and the appeals filed by M/s. X were allowed in entirety.
CESTAT held that the customs authorities could not deny the preferential rate of duty under N/N. 46/2011-Cus. solely on the basis of an FTA Cell letter alleging that the relevant Certificate of Origin was "inauthentic," without producing the underlying verification report. In absence of this primary document, the conclusion of inauthenticity was treated as hearsay and legally unsustainable. Further, earlier imports under six separate Bills of Entry, supported by different Certificates of Origin, could not be discredited merely by association with the disputed certificate, especially when their assessments had attained finality and were never challenged. Consequently, CESTAT set aside the confirmed demands, and the appeals filed by M/s. X were allowed in entirety.
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