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...
Exemption from Special Additional Duty under Notification No. 45/2005-Customs was held unavailable where imported bulk tablets were moved from an FTWZ to the importer's factory by stock transfer, because sale on payment of Sales Tax/VAT was a condition precedent and was not satisfied at the clearance stage. However, the demand was set aside as time-barred: the Tribunal found that the record disclosed the nature of the activity and the parties' understanding of the notification, so non-payment of duty could not be treated as suppression, wilful misstatement or similar conduct to justify the extended limitation period under Section 28. The appeals were allowed solely on limitation.
Exemption from Special Additional Duty under Notification No. 45/2005-Customs was held unavailable where imported bulk tablets were moved from an FTWZ to the importer's factory by stock transfer, because sale on payment of Sales Tax/VAT was a condition precedent and was not satisfied at the clearance stage. However, the demand was set aside as time-barred: the Tribunal found that the record disclosed the nature of the activity and the parties' understanding of the notification, so non-payment of duty could not be treated as suppression, wilful misstatement or similar conduct to justify the extended limitation period under Section 28. The appeals were allowed solely on limitation.
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