Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
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CESTAT considered classification of seized petroleum fractions by applying the "most akin" test and found the samples matched DMX-type Distillate Marine Fuel on tested parameters; cloud point, being a non-determinative specification under IS 16731, cannot alone justify seizure. The tribunal agreed with the Commissioner's view that reliance on a single non-essential parameter was improper, placed the balance of convenience in favour of the importer, and directed discharge of two bank guarantees and modification of provisional release conditions in line with the cited High Court decision.
CESTAT considered classification of seized petroleum fractions by applying the "most akin" test and found the samples matched DMX-type Distillate Marine Fuel on tested parameters; cloud point, being a non-determinative specification under IS 16731, cannot alone justify seizure. The tribunal agreed with the Commissioner's view that reliance on a single non-essential parameter was improper, placed the balance of convenience in favour of the importer, and directed discharge of two bank guarantees and modification of provisional release conditions in line with the cited High Court decision.
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