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 turns on the functional capability of facsimile machines to connect to an Automatic Data Processing machine or network; the Department bears the burden of adducing technical evidence to support an adverse tariff entry and failed to do so, so the importer's classification under CTH 8443 3260 was accepted. An adverse departmental circular cannot be given retrospective effect when it operates against an importer; prospective application was required. Where classification is a bona fide interpretation without suppression or willful misstatement, extended limitation and penalty are not sustainable, and the demand and penalty were set aside.
Classification turns on the functional capability of facsimile machines to connect to an Automatic Data Processing machine or network; the Department bears the burden of adducing technical evidence to support an adverse tariff entry and failed to do so, so the importer's classification under CTH 8443 3260 was accepted. An adverse departmental circular cannot be given retrospective effect when it operates against an importer; prospective application was required. Where classification is a bona fide interpretation without suppression or willful misstatement, extended limitation and penalty are not sustainable, and the demand and penalty were set aside.
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