Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Reusable metal containers owned by an overseas supplier and imported with raw material were not treated as separately dutiable goods under the Customs Act, 1962; applying the Supreme Court principle in Chairman, Board of Trustees, Cochin Port Trust v. Arebee Star Maritime Agencies, the Tribunal held that duty could not be demanded again on the containers. Under section 14 read with Rule 10(1) of the Customs Valuation Rules, 2007, only packing cost actually incurred or payable by the importer could be included, and the rental value of the packing material was already reflected in the CIF value of the imported synthetic rubber. The reassessment, including interest and penalties, was set aside.
Reusable metal containers owned by an overseas supplier and imported with raw material were not treated as separately dutiable goods under the Customs Act, 1962; applying the Supreme Court principle in Chairman, Board of Trustees, Cochin Port Trust v. Arebee Star Maritime Agencies, the Tribunal held that duty could not be demanded again on the containers. Under section 14 read with Rule 10(1) of the Customs Valuation Rules, 2007, only packing cost actually incurred or payable by the importer could be included, and the rental value of the packing material was already reflected in the CIF value of the imported synthetic rubber. The reassessment, including interest and penalties, was set aside.
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