Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
Import of ferrous waste, scrap and re-melting scrap from Dubai/UAE was held to be freely permitted under Indian law, so confiscation could not rest on any alleged Foreign Trade Policy violation. The importer had produced the invoice, packing list, certificate of origin, bill of lading, pre-shipment inspection certificate and container tracking, and no misdeclaration was established on record. The Tribunal further held that a DGFT office memorandum could not retrospectively invalidate a valid PSIC issued by the PSIA. Since the inspection occurred after Dubai Customs Notice 08/2022 had ceased and before Notice 05/2023 was issued, there was no operative export ban at that time. Redemption fine and penalty were therefore set aside.
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