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...
Imported inputs/parts for manufacturing cellular mobile phones in a bonded warehouse were examined for simultaneous eligibility of exemption under N/N 57/2017-Cus (IGCR) and duty deferment under the MOOWR scheme, and for the treatment of manufacturing waste/scrap. It was held that IGCR benefits can be availed along with MOOWR, provided all conditions under the notification and IGCR Rules (including time limits and end-use compliance) are strictly met in addition to MOOWR requirements. However, disposal of waste/refuse generated in a MOOWR unit is governed exclusively by s.65(2) of the Customs Act read with MOOWR Regulations; duty neutrality applies on export of finished goods if linked waste is destroyed or cleared on duty, while home consumption attracts duty on finished goods and input-content in waste. - AAR
Imported inputs/parts for manufacturing cellular mobile phones in a bonded warehouse were examined for simultaneous eligibility of exemption under N/N 57/2017-Cus (IGCR) and duty deferment under the MOOWR scheme, and for the treatment of manufacturing waste/scrap. It was held that IGCR benefits can be availed along with MOOWR, provided all conditions under the notification and IGCR Rules (including time limits and end-use compliance) are strictly met in addition to MOOWR requirements. However, disposal of waste/refuse generated in a MOOWR unit is governed exclusively by s.65(2) of the Customs Act read with MOOWR Regulations; duty neutrality applies on export of finished goods if linked waste is destroyed or cleared on duty, while home consumption attracts duty on finished goods and input-content in waste. - AAR
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