Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Supplies from the Domestic Tariff Area to an SEZ unit were treated as deemed exports under the FTP, so the entitlement to EPCG export benefits had to be tested under Chapter 8 of the FTP rather than by a narrow reading of the SEZ Act. The Court held that Section 2(m)(ii) and Section 53 of the SEZ Act, and Rule 30 of the SEZ Rules, did not extinguish FTP benefits or make Bills of Export the only proof of export obligation. Invoices together with bank realisation certificates were sufficient evidence of compliance, and the review petition failed because absence of Bills of Export alone could not defeat the claim.
Supplies from the Domestic Tariff Area to an SEZ unit were treated as deemed exports under the FTP, so the entitlement to EPCG export benefits had to be tested under Chapter 8 of the FTP rather than by a narrow reading of the SEZ Act. The Court held that Section 2(m)(ii) and Section 53 of the SEZ Act, and Rule 30 of the SEZ Rules, did not extinguish FTP benefits or make Bills of Export the only proof of export obligation. Invoices together with bank realisation certificates were sufficient evidence of compliance, and the review petition failed because absence of Bills of Export alone could not defeat the claim.
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