Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
Entitlement to exemption under Customs Notification No.31/1997 (DEEC/advance licence) turns on the date of clearance: Sections 15 and 68 of the Customs Act fix the relevant date for duty and tariff valuation as the date a bill of entry for home consumption is presented and identify clearance from warehouse as the operative event. General Exemption No.84-I conditions exemption on production of the licence and certificate at clearance. Because the advance licence had expired by the date of clearance, the exemption ceased and the High Court's rejection of the claim was upheld by the SC.
Entitlement to exemption under Customs Notification No.31/1997 (DEEC/advance licence) turns on the date of clearance: Sections 15 and 68 of the Customs Act fix the relevant date for duty and tariff valuation as the date a bill of entry for home consumption is presented and identify clearance from warehouse as the operative event. General Exemption No.84-I conditions exemption on production of the licence and certificate at clearance. Because the advance licence had expired by the date of clearance, the exemption ceased and the High Court's rejection of the claim was upheld by the SC.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
