Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Interest income on non-performing assets was treated as taxable where the taxpayer both accrued interest and made substantial fresh advances to the same borrowers; the court held that such conduct negates a claim that accrued interest was merely notional and uncollectible, and therefore supports taxation. The writ was held non-maintainable because an effective statutory appellate remedy existed and was not timely availed, so the High Court refused to substitute writ jurisdiction for the lapsed appeal. The tribunal's fact-driven distinction between loan categories based on borrower conduct and fresh advances was upheld, favouring revenue on the merits.
Interest income on non-performing assets was treated as taxable where the taxpayer both accrued interest and made substantial fresh advances to the same borrowers; the court held that such conduct negates a claim that accrued interest was merely notional and uncollectible, and therefore supports taxation. The writ was held non-maintainable because an effective statutory appellate remedy existed and was not timely availed, so the High Court refused to substitute writ jurisdiction for the lapsed appeal. The tribunal's fact-driven distinction between loan categories based on borrower conduct and fresh advances was upheld, favouring revenue on the merits.
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