Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Duty-free import benefit for a 100% EOU was denied because export of serpentine products did not satisfy the condition attached to imported marble blocks, as serpentine marble and marble were not similar goods; customs duty was therefore payable on the imports. The extended period of limitation was set aside because the department knew of the imports, exports and DTA clearances, so suppression with intent to evade duty was not proved, and a B-17 bond did not remove the normal limitation rules. Cutting marble blocks into slabs or tiles during the relevant period was held not to amount to manufacture, so the central excise demand failed. Excise duty already paid on DTA clearances was allowed to be adjusted against the surviving customs demand, and confiscation, redemption fine and penalties were set aside.
Duty-free import benefit for a 100% EOU was denied because export of serpentine products did not satisfy the condition attached to imported marble blocks, as serpentine marble and marble were not similar goods; customs duty was therefore payable on the imports. The extended period of limitation was set aside because the department knew of the imports, exports and DTA clearances, so suppression with intent to evade duty was not proved, and a B-17 bond did not remove the normal limitation rules. Cutting marble blocks into slabs or tiles during the relevant period was held not to amount to manufacture, so the central excise demand failed. Excise duty already paid on DTA clearances was allowed to be adjusted against the surviving customs demand, and confiscation, redemption fine and penalties were set aside.
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