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...
The High Court dealt with multiple MAT computation issues under Section 115JB, applying Apollo Tyres to hold that items not covered by Explanation 1, including foreign corporate tax and deferred revenue expenditure, could not be added back. It also accepted concurrent findings that state capital investment subsidy was a capital receipt, that expenditure on construction of a government-owned road was revenue in nature, and that wealth tax provision was not contemplated under the section. The appeal was admitted only on four issues: sales tax subsidy in book profit, provision for bad and doubtful debts, revenue from trial run production, and withdrawal from share premium account, to be heard with the connected appeal for the earlier year.
The High Court dealt with multiple MAT computation issues under Section 115JB, applying Apollo Tyres to hold that items not covered by Explanation 1, including foreign corporate tax and deferred revenue expenditure, could not be added back. It also accepted concurrent findings that state capital investment subsidy was a capital receipt, that expenditure on construction of a government-owned road was revenue in nature, and that wealth tax provision was not contemplated under the section. The appeal was admitted only on four issues: sales tax subsidy in book profit, provision for bad and doubtful debts, revenue from trial run production, and withdrawal from share premium account, to be heard with the connected appeal for the earlier year.
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