Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
TDS on leave fare concession payments was disputed where the assessee bank had treated the benefit as exempt, but employees had undertaken foreign-leg journeys. Although the substantive exemption under section 10(5) was found against the assessee, the Tribunal held that liability as an assessee in default could not be fastened for the relevant period because binding interim High Court directions governed deduction of tax on LFC payments. Non-deduction in compliance with those judicial orders did not attract the rigours of section 201(1) or consequential interest under section 201(1A), and the subsequent Supreme Court ruling could not retrospectively create that default. The demand and interest were deleted.
TDS on leave fare concession payments was disputed where the assessee bank had treated the benefit as exempt, but employees had undertaken foreign-leg journeys. Although the substantive exemption under section 10(5) was found against the assessee, the Tribunal held that liability as an assessee in default could not be fastened for the relevant period because binding interim High Court directions governed deduction of tax on LFC payments. Non-deduction in compliance with those judicial orders did not attract the rigours of section 201(1) or consequential interest under section 201(1A), and the subsequent Supreme Court ruling could not retrospectively create that default. The demand and interest were deleted.
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