Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Import entitlement for dried cranberry was sustained because the product falls within the generic category 'fruit', and denial of duty-free import under post-export Duty Free Import Authorisations (DFIAs) lacked factual basis. The tribunal held transferable post-export DFIAs are not subject to an actual user condition for transferees, and struck down a value-cap public notice as invalid for lacking gazette notification. The assessing and firstappellate authorities failed to issue a speaking, reasoned order, warranting relief. The impugned orders were set aside and the licensing authority directed to restore/revalidate the lapsed DFIA for the unexpired period from bill of entry presentation.
Import entitlement for dried cranberry was sustained because the product falls within the generic category 'fruit', and denial of duty-free import under post-export Duty Free Import Authorisations (DFIAs) lacked factual basis. The tribunal held transferable post-export DFIAs are not subject to an actual user condition for transferees, and struck down a value-cap public notice as invalid for lacking gazette notification. The assessing and firstappellate authorities failed to issue a speaking, reasoned order, warranting relief. The impugned orders were set aside and the licensing authority directed to restore/revalidate the lapsed DFIA for the unexpired period from bill of entry presentation.
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