Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
The exemption under Notification No. 21/2002 could not be denied merely because the importer did not re-export the goods within the date mentioned in the DGH certificate, as the notification itself imposed no such time-bound condition. The Tribunal held that Condition No. 29 only required a DGH certificate confirming that the goods were needed for petroleum operations and imported under the relevant licence or mining lease; any additional re-export stipulation in the certificate could not override the notification. It further applied its earlier ruling that clearance to an SEZ unit after use amounts to export under the SEZ Act. The demand of duty, interest and penalty was therefore unsustainable and was set aside.
The exemption under Notification No. 21/2002 could not be denied merely because the importer did not re-export the goods within the date mentioned in the DGH certificate, as the notification itself imposed no such time-bound condition. The Tribunal held that Condition No. 29 only required a DGH certificate confirming that the goods were needed for petroleum operations and imported under the relevant licence or mining lease; any additional re-export stipulation in the certificate could not override the notification. It further applied its earlier ruling that clearance to an SEZ unit after use amounts to export under the SEZ Act. The demand of duty, interest and penalty was therefore unsustainable and was set aside.
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