Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Cotton waste sold by the assessee was treated by the AO as "scrap" liable to TCS under s. 206C. Interpreting the statutory definition of "scrap," the tribunal held that cotton waste used as raw material in open-ended spinning mills does not qualify as scrap, so s. 206C is inapplicable on such sales. Although the first appellate authority accepted non-taxability in principle, it denied relief for non-furnishing of Form 27C; the tribunal treated this as a curable technical lapse in light of binding precedent and noted that end-user declarations were produced. The matter was remitted to the AO to verify end-use and then allow relief accordingly; appeal was statistically allowed. - ITAT
Cotton waste sold by the assessee was treated by the AO as "scrap" liable to TCS under s. 206C. Interpreting the statutory definition of "scrap," the tribunal held that cotton waste used as raw material in open-ended spinning mills does not qualify as scrap, so s. 206C is inapplicable on such sales. Although the first appellate authority accepted non-taxability in principle, it denied relief for non-furnishing of Form 27C; the tribunal treated this as a curable technical lapse in light of binding precedent and noted that end-user declarations were produced. The matter was remitted to the AO to verify end-use and then allow relief accordingly; appeal was statistically allowed. - ITAT
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