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...
Imported inverter assembly units used in mild hybrid vehicles were held to be "static converters" because they perform DC-AC inversion and AC-DC rectification through semiconductor switching devices with control circuitry, bringing them within HSN Explanatory Notes to heading 8504; they were therefore classified under tariff item 8504 40 90 rather than headings for vehicle parts or ignition/electrical equipment. Consequentially, since 8504 40 90 is covered by S. No. 646 of Notification No. 69/2011-Cus. and the goods were represented to be originating in Japan, the imports were held eligible for 0% basic customs duty subject to satisfaction of Japan CEPA origin conditions and CAROTAR, 2020 requirements. - AAR
Imported inverter assembly units used in mild hybrid vehicles were held to be "static converters" because they perform DC-AC inversion and AC-DC rectification through semiconductor switching devices with control circuitry, bringing them within HSN Explanatory Notes to heading 8504; they were therefore classified under tariff item 8504 40 90 rather than headings for vehicle parts or ignition/electrical equipment. Consequentially, since 8504 40 90 is covered by S. No. 646 of Notification No. 69/2011-Cus. and the goods were represented to be originating in Japan, the imports were held eligible for 0% basic customs duty subject to satisfaction of Japan CEPA origin conditions and CAROTAR, 2020 requirements. - AAR
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