Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Export duty on iron ore fines had to be assessed with reference to the taxable event and the law in force on the date of export, so the later amendment could not be applied retrospectively to exports made earlier. The Court held that Fe content for the relevant shipping bills had to be determined on WMT basis, in line with Circular No. 04/2012-Cus., which remained binding on the Department while operative. The adjudicating authority erred in proceeding on DMT basis and in treating alleged fraud or DMT pricing as grounds to ignore the circular. The order was set aside and the matter remitted for fresh adjudication after hearing and confrontation of relied-upon material.
Export duty on iron ore fines had to be assessed with reference to the taxable event and the law in force on the date of export, so the later amendment could not be applied retrospectively to exports made earlier. The Court held that Fe content for the relevant shipping bills had to be determined on WMT basis, in line with Circular No. 04/2012-Cus., which remained binding on the Department while operative. The adjudicating authority erred in proceeding on DMT basis and in treating alleged fraud or DMT pricing as grounds to ignore the circular. The order was set aside and the matter remitted for fresh adjudication after hearing and confrontation of relied-upon material.
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