Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Section 127J of the Customs Act was held not to bar FEMA proceedings based on independent evidence gathered in a separate investigation, and FEMA was treated as a self-contained code for contraventions under that enactment. The Tribunal also rejected selective reliance on a director's statement where the export transactions pre-dated his directorship, treating his assertions as hearsay for lack of personal knowledge. On the merits, commission paid by an overseas buyer to an overseas agent was found not to be export proceeds due or accrued to the exporter, so no realization or repatriation obligation arose and the alleged contraventions of the Export Regulations and FEMA were not established. The penalties were set aside.
Section 127J of the Customs Act was held not to bar FEMA proceedings based on independent evidence gathered in a separate investigation, and FEMA was treated as a self-contained code for contraventions under that enactment. The Tribunal also rejected selective reliance on a director's statement where the export transactions pre-dated his directorship, treating his assertions as hearsay for lack of personal knowledge. On the merits, commission paid by an overseas buyer to an overseas agent was found not to be export proceeds due or accrued to the exporter, so no realization or repatriation obligation arose and the alleged contraventions of the Export Regulations and FEMA were not established. The penalties were set aside.
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