Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Receipts from sale of fly ash were held taxable as business income because fly ash was a by-product of the assessee's power generation business and the sale consideration accrued directly to the assessee. The Tribunal found no diversion of income at source by overriding title; the Government notification restricted only the subsequent use of the amounts after receipt, which amounted merely to application of income. The plea that the credited sum was a liability failed because no enforceable obligation to pay a definite third-party amount was shown, and book entries placing the receipts in a separate fund could not override the Act. The Revenue's appeals were allowed and the addition was restored for both years.
Receipts from sale of fly ash were held taxable as business income because fly ash was a by-product of the assessee's power generation business and the sale consideration accrued directly to the assessee. The Tribunal found no diversion of income at source by overriding title; the Government notification restricted only the subsequent use of the amounts after receipt, which amounted merely to application of income. The plea that the credited sum was a liability failed because no enforceable obligation to pay a definite third-party amount was shown, and book entries placing the receipts in a separate fund could not override the Act. The Revenue's appeals were allowed and the addition was restored for both years.
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