Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
A refund of Extra Duty Deposit was held not hit by unjust enrichment where the disputed amount had been shown as recoverable in the relevant balance sheet, supported by a Chartered Accountant certificate, and the payment had been made from a promoter's loan that was a transaction distinct from the import itself. The Tribunal found that such loan funding did not amount to passing on the duty incidence to another person, so credit to the Consumer Welfare Fund was unsustainable and the refund was payable to the appellant. It also held that interest was payable on the delayed refund in accordance with the Customs Act, applying the principle in Ranbaxy Laboratories.
A refund of Extra Duty Deposit was held not hit by unjust enrichment where the disputed amount had been shown as recoverable in the relevant balance sheet, supported by a Chartered Accountant certificate, and the payment had been made from a promoter's loan that was a transaction distinct from the import itself. The Tribunal found that such loan funding did not amount to passing on the duty incidence to another person, so credit to the Consumer Welfare Fund was unsustainable and the refund was payable to the appellant. It also held that interest was payable on the delayed refund in accordance with the Customs Act, applying the principle in Ranbaxy Laboratories.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
