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...
Actual-user and non-transferability conditions under Notification No. 32/2005-Cus. required the claimant to prove eligibility; the Tribunal found appellants failed this burden because endorsed licence details were missing, job-workers denied receipt, addresses were false or non-existent, contemporaneous records were absent, and arrangements indicated high-seas sales and third party control, cumulatively supporting diversion of duty free imports rather than bona fide use. The principle that exemption is an exception and claimants must produce the best evidence was applied, sustaining demand, confiscation and penalties, but the penalty proposed under section 112 was set aside for procedural infirmity following the jurisdictional High Court.
Actual-user and non-transferability conditions under Notification No. 32/2005-Cus. required the claimant to prove eligibility; the Tribunal found appellants failed this burden because endorsed licence details were missing, job-workers denied receipt, addresses were false or non-existent, contemporaneous records were absent, and arrangements indicated high-seas sales and third party control, cumulatively supporting diversion of duty free imports rather than bona fide use. The principle that exemption is an exception and claimants must produce the best evidence was applied, sustaining demand, confiscation and penalties, but the penalty proposed under section 112 was set aside for procedural infirmity following the jurisdictional High Court.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
