Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
For imported capital goods of a 100% EOU, the controlling condition was installation or use within the bonded premises within the stipulated period; the NFEP-linked duty recovery provision applied to raw materials and consumables, not to capital goods. Since procurement and installation were undisputed, failure to achieve export obligation or NFEP did not by itself justify customs duty on the capital goods, and the duty demand was rightly set aside. The later notification dated 31.03.2003 was held inapplicable because the default period predated it and no retrospective effect was shown. As the duty demand failed, the penalty under Section 112(a) also could not survive.
For imported capital goods of a 100% EOU, the controlling condition was installation or use within the bonded premises within the stipulated period; the NFEP-linked duty recovery provision applied to raw materials and consumables, not to capital goods. Since procurement and installation were undisputed, failure to achieve export obligation or NFEP did not by itself justify customs duty on the capital goods, and the duty demand was rightly set aside. The later notification dated 31.03.2003 was held inapplicable because the default period predated it and no retrospective effect was shown. As the duty demand failed, the penalty under Section 112(a) also could not survive.
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