Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Eligibility for exemption on reimport under the relevant notification turned on whether the reimported tyres and tubes were the same goods earlier exported with tractors in SKD condition. The denial rested on the view that only complete tractors had been exported and hence exemption required reimport of tractors, not parts. The tribunal held the notification requires identity of the goods reimported, not return of the entire SKD consignment; identity was established through examination reports, shipping documents, invoices/packing lists, correspondence evidencing defect returns, and matching markings showing Indian origin and supplier linkage. With no other condition shown to be breached, the denial orders were set aside and the appeal was allowed. - CESTAT
Eligibility for exemption on reimport under the relevant notification turned on whether the reimported tyres and tubes were the same goods earlier exported with tractors in SKD condition. The denial rested on the view that only complete tractors had been exported and hence exemption required reimport of tractors, not parts. The tribunal held the notification requires identity of the goods reimported, not return of the entire SKD consignment; identity was established through examination reports, shipping documents, invoices/packing lists, correspondence evidencing defect returns, and matching markings showing Indian origin and supplier linkage. With no other condition shown to be breached, the denial orders were set aside and the appeal was allowed. - CESTAT
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