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...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Classification of imported natural rubber latex under tariff headings must follow the General Rules for Interpretation; where headings and notes permit divergent legal interpretation, revenue bears the burden to prove misclassification. Post-clearance audit and ACP/AEO facilitation require authorities to produce cogent evidence before alleging misconduct; wilful misstatement demands proof of a positive act and intent. Because the departmental challenge could reflect a genuine divergence of view and no negative intention was established, the show-cause notice was held time-barred and the impugned demand was set aside, with consequential relief permitted.
Classification of imported natural rubber latex under tariff headings must follow the General Rules for Interpretation; where headings and notes permit divergent legal interpretation, revenue bears the burden to prove misclassification. Post-clearance audit and ACP/AEO facilitation require authorities to produce cogent evidence before alleging misconduct; wilful misstatement demands proof of a positive act and intent. Because the departmental challenge could reflect a genuine divergence of view and no negative intention was established, the show-cause notice was held time-barred and the impugned demand was set aside, with consequential relief permitted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
