Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Appellant reimported defective goods initially claiming benefit under Notification No.158/1995 but later sought alternate exemption under Notification No.94/1996; Tribunal held an alternate notification may be claimed despite an earlier, different claim, subject to satisfying the alternate notification's conditions, and relied on a prior CESTAT decision with similar facts. Because the record lacks a finding on whether the appellant met those conditions, the matter is remanded for de novo adjudication with directions to observe principles of natural justice and, if practicable, conclude proceedings within three months.
Appellant reimported defective goods initially claiming benefit under Notification No.158/1995 but later sought alternate exemption under Notification No.94/1996; Tribunal held an alternate notification may be claimed despite an earlier, different claim, subject to satisfying the alternate notification's conditions, and relied on a prior CESTAT decision with similar facts. Because the record lacks a finding on whether the appellant met those conditions, the matter is remanded for de novo adjudication with directions to observe principles of natural justice and, if practicable, conclude proceedings within three months.
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