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...
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Concessional customs duty under Notification No. 57/2017-Customs remains available for imported inputs and parts imported for use in manufacture, even where some material is consumed, damaged, or scrapped during the manufacturing process, so long as the IGCR Rules, 2022 are complied with. The text applies a literal reading of the notification and rules, treats "for use" as intended use in manufacture, and rejects importing conditions from SION norms or the separate MOOWR regime. It concludes that the exemption cannot be denied merely because inputs are not physically present in the finished product.
Concessional customs duty under Notification No. 57/2017-Customs remains available for imported inputs and parts imported for use in manufacture, even where some material is consumed, damaged, or scrapped during the manufacturing process, so long as the IGCR Rules, 2022 are complied with. The text applies a literal reading of the notification and rules, treats "for use" as intended use in manufacture, and rejects importing conditions from SION norms or the separate MOOWR regime. It concludes that the exemption cannot be denied merely because inputs are not physically present in the finished product.
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