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...
Investments in fixed deposit receipts under the statutory investment mode do not constitute an application of income for charitable purposes; the Special Bench held that Section 11(5) prescribes permissible investment modes distinct from application under Section 11(1), and therefore FDRs cannot be treated as charitable application. Reopening assessments were validly initiated because the trust failed to furnish the mandatory intimation (Form No.10), constituting non-disclosure of material facts, so reassessments under reopening provisions were not a mere change of opinion. Consequential claims for set-off of alleged earlier excess application were rejected as the issue was finally decided against the assessee.
Investments in fixed deposit receipts under the statutory investment mode do not constitute an application of income for charitable purposes; the Special Bench held that Section 11(5) prescribes permissible investment modes distinct from application under Section 11(1), and therefore FDRs cannot be treated as charitable application. Reopening assessments were validly initiated because the trust failed to furnish the mandatory intimation (Form No.10), constituting non-disclosure of material facts, so reassessments under reopening provisions were not a mere change of opinion. Consequential claims for set-off of alleged earlier excess application were rejected as the issue was finally decided against the assessee.
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