Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
The dominant issues were whether CBDT instructions could override the Benami Act, 1988 and whether the 2016 amendments were inapplicable where the initial transfer pre-dated the amendment but the property continued to be held thereafter. It was held that CBDT instructions were administrative and did not control or dilute statutory powers; the Initiating Officer validly exercised authority to provisionally attach property under the 1988 Act, hence the challenge failed. It was further held that excluding amended provisions merely because the initial transfer occurred earlier, despite continued holding post-amendment, would impermissibly rewrite the 2016 amendments; hence the amended regime applied. On facts, the property was found to be benami for the benefit of an interested party, and further transfers were treated as void under s.6, so no interference was warranted and the appeal was dismissed. - AT
The dominant issues were whether CBDT instructions could override the Benami Act, 1988 and whether the 2016 amendments were inapplicable where the initial transfer pre-dated the amendment but the property continued to be held thereafter. It was held that CBDT instructions were administrative and did not control or dilute statutory powers; the Initiating Officer validly exercised authority to provisionally attach property under the 1988 Act, hence the challenge failed. It was further held that excluding amended provisions merely because the initial transfer occurred earlier, despite continued holding post-amendment, would impermissibly rewrite the 2016 amendments; hence the amended regime applied. On facts, the property was found to be benami for the benefit of an interested party, and further transfers were treated as void under s.6, so no interference was warranted and the appeal was dismissed. - AT
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