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...
Seized drone components were not shown on the record to constitute complete drones imported in CKD/SKD condition, as the quantities were uneven, imports were spread across multiple Bills of Entry, some parts were domestically procured, and the engineering report was inconclusive. Applying the principle that CKD/SKD treatment requires proof of complete units dismantled for reassembly, and that Customs Tariff interpretation rules cannot be used to read Foreign Trade Policy conditions, the Tribunal rejected the prohibition basis for refusal of provisional release. It also found no factual foundation for invoking public safety or national security, and held that the CBIC circular could not override the statutory scheme. Conditional provisional release was therefore directed.
Seized drone components were not shown on the record to constitute complete drones imported in CKD/SKD condition, as the quantities were uneven, imports were spread across multiple Bills of Entry, some parts were domestically procured, and the engineering report was inconclusive. Applying the principle that CKD/SKD treatment requires proof of complete units dismantled for reassembly, and that Customs Tariff interpretation rules cannot be used to read Foreign Trade Policy conditions, the Tribunal rejected the prohibition basis for refusal of provisional release. It also found no factual foundation for invoking public safety or national security, and held that the CBIC circular could not override the statutory scheme. Conditional provisional release was therefore directed.
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