Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Imported blood glucose meters and similar diagnostic instruments were held classifiable under Heading 90.27 as instruments for chemical analysis, rather than under the more general medical instruments entry in Heading 90.18. The Tribunal applied the specific-over-general classification principle, followed its earlier view in Bayer Pharmaceuticals and Abbott Healthcare, and noted that view stood affirmed by the Supreme Court. On that basis, the goods were correctly classified under CTI 90278090 and the exemption under Notification No. 24/2005-Cus. was available. The reclassification in the impugned order was rejected, and the differential duty demand and penalty were set aside.
Imported blood glucose meters and similar diagnostic instruments were held classifiable under Heading 90.27 as instruments for chemical analysis, rather than under the more general medical instruments entry in Heading 90.18. The Tribunal applied the specific-over-general classification principle, followed its earlier view in Bayer Pharmaceuticals and Abbott Healthcare, and noted that view stood affirmed by the Supreme Court. On that basis, the goods were correctly classified under CTI 90278090 and the exemption under Notification No. 24/2005-Cus. was available. The reclassification in the impugned order was rejected, and the differential duty demand and penalty were set aside.
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