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...
Countervailing duty on imported silk fabrics for 2012-2013 was held not leviable, applying binding precedent that exempted such imports; the CVD demand consequently failed. Invocation of the extended period under s.28(4) was held impermissible because the export-obligation default was a post-import event and there was no suppression or wilful misstatement at import; since duty and interest were paid before the show cause notice, proceedings stood concluded under s.28(2), nullifying the basis for extended limitation and penal action. Confiscation, redemption fine, and penalties under ss.112, 114A and 114AA were set aside for lack of mens rea and absence of fabricated documents, with remand limited to arithmetical verification of basic customs duty and interest already paid. - CESTAT
Countervailing duty on imported silk fabrics for 2012-2013 was held not leviable, applying binding precedent that exempted such imports; the CVD demand consequently failed. Invocation of the extended period under s.28(4) was held impermissible because the export-obligation default was a post-import event and there was no suppression or wilful misstatement at import; since duty and interest were paid before the show cause notice, proceedings stood concluded under s.28(2), nullifying the basis for extended limitation and penal action. Confiscation, redemption fine, and penalties under ss.112, 114A and 114AA were set aside for lack of mens rea and absence of fabricated documents, with remand limited to arithmetical verification of basic customs duty and interest already paid. - CESTAT
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