Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
The dominant issue was whether an import licence condition stating that import of gold dore bars was "subject to" a 2012 customs notification barred availment of a separate 2008 exemption notification. The tribunal held that the licence did not expressly prohibit other applicable exemptions; therefore, if an exemption notification fully exempted duty, the importer could lawfully claim it notwithstanding the licence reference to the 2012 notification, and the Commissioner's "if and only if" reading was unsustainable. It further held that customs could not question the validity of a DGFT-issued licence unless it was cancelled by DGFT, and hence duty demand under s.28(1), penalty under s.112(a)(ii), and redemption fine could not survive; the order was set aside and appeal allowed - CESTAT
The dominant issue was whether an import licence condition stating that import of gold dore bars was "subject to" a 2012 customs notification barred availment of a separate 2008 exemption notification. The tribunal held that the licence did not expressly prohibit other applicable exemptions; therefore, if an exemption notification fully exempted duty, the importer could lawfully claim it notwithstanding the licence reference to the 2012 notification, and the Commissioner's "if and only if" reading was unsustainable. It further held that customs could not question the validity of a DGFT-issued licence unless it was cancelled by DGFT, and hence duty demand under s.28(1), penalty under s.112(a)(ii), and redemption fine could not survive; the order was set aside and appeal allowed - CESTAT
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