Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
Transmission shafts, gears, gear boxes and allied machine parts manufactured for agricultural machinery were classifiable under Heading 8483, because Note 2(a) to Section XVI required goods specifically covered by a Chapter 84 heading to be classified there even if they were designed for a particular machine. The Tribunal also accepted that amounts reversed under Rule 6(3) on a bona fide exemption belief had to be adjusted against any duty liability, and cum-duty benefit was admissible where no duty was separately collected. The demand, however, was held time-barred: the dispute turned on tariff interpretation, suppression with intent to evade was not proved, and the extended period could not be invoked.
Transmission shafts, gears, gear boxes and allied machine parts manufactured for agricultural machinery were classifiable under Heading 8483, because Note 2(a) to Section XVI required goods specifically covered by a Chapter 84 heading to be classified there even if they were designed for a particular machine. The Tribunal also accepted that amounts reversed under Rule 6(3) on a bona fide exemption belief had to be adjusted against any duty liability, and cum-duty benefit was admissible where no duty was separately collected. The demand, however, was held time-barred: the dispute turned on tariff interpretation, suppression with intent to evade was not proved, and the extended period could not be invoked.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
