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...
The issue concerns whether sales where goods are shipped abroad and consideration is received in foreign exchange qualify as a "sale in the course of export" under Section 5(1) of the Central Sales Tax Act and thus attract exemption under Article 286(1)(b). The note applies the Ben Gorm distinction between a sale for export (seller not linked to the export) and a sale in the course of export (export inextricably linked to the sale), finding the latter standard controls. On that basis the impugned revision order denying exemption was set aside and the writ petition allowed.
The issue concerns whether sales where goods are shipped abroad and consideration is received in foreign exchange qualify as a "sale in the course of export" under Section 5(1) of the Central Sales Tax Act and thus attract exemption under Article 286(1)(b). The note applies the Ben Gorm distinction between a sale for export (seller not linked to the export) and a sale in the course of export (export inextricably linked to the sale), finding the latter standard controls. On that basis the impugned revision order denying exemption was set aside and the writ petition allowed.
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