Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
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Debit of MEIS duty credit scrips was treated as valid discharge of past customs duty liability for Education Cess and Secondary & Higher Education Cess on imported goods. The Tribunal read clause 11 of CBIC Circular No. 02/2020-Cus as reflecting a broader principle that past payments made through duty credit scrips should not be disturbed and must be accepted as duty already collected. Relying on prior decisions, it held that such cess components formed part of customs duty and could not be recovered again in cash for past imports. In the absence of suppression, fraud, or misdeclaration, any further cash demand would amount to impermissible double recovery.
Debit of MEIS duty credit scrips was treated as valid discharge of past customs duty liability for Education Cess and Secondary & Higher Education Cess on imported goods. The Tribunal read clause 11 of CBIC Circular No. 02/2020-Cus as reflecting a broader principle that past payments made through duty credit scrips should not be disturbed and must be accepted as duty already collected. Relying on prior decisions, it held that such cess components formed part of customs duty and could not be recovered again in cash for past imports. In the absence of suppression, fraud, or misdeclaration, any further cash demand would amount to impermissible double recovery.
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