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...
The dominant issue was classification of imported "MIKO-3" as "electronic toys" under CTH 95030030 versus an automatic data processing unit under CTH 84714190. Applying binding parity with an earlier decision on the same importer on an identical factual matrix, the Tribunal held that the Revenue's attempted reclassification could not be sustained. The Revenue also failed to discharge the burden of disproving the importer's declared classification or to adduce evidence establishing the product as "electronic toys" alone. Accordingly, classification under CTH 84714190 was upheld and the impugned orders were set aside, with the appeal allowed. - CESTAT
The dominant issue was classification of imported "MIKO-3" as "electronic toys" under CTH 95030030 versus an automatic data processing unit under CTH 84714190. Applying binding parity with an earlier decision on the same importer on an identical factual matrix, the Tribunal held that the Revenue's attempted reclassification could not be sustained. The Revenue also failed to discharge the burden of disproving the importer's declared classification or to adduce evidence establishing the product as "electronic toys" alone. Accordingly, classification under CTH 84714190 was upheld and the impugned orders were set aside, with the appeal allowed. - CESTAT
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