Classification of LCD devices used in electricity meters - Extended limitation and penal consequences for disputed classification Classification of LCD devices used in electricity meters - Specific tariff entry vis-a -vis classification as meter parts - Classification of LCD devices imported for use in manufacturing electricity meters under CTI 90138010 OR as indicator panels under CTH 85312000 or as meter parts under CTI 90309010 - HELD THAT: - The goods were LCD devices specifically covered... ... ...

DGFT regularisation of EPCG imports - Confiscation and penalty for non-fulfilment of EPCG export obligation Validity of confiscation and penalty for failure to fulfil export obligation under an EPCG licence after the DGFT regularised the imports on payment of duty and interest - HELD THAT: - The Tribunal noted that the DGFT had regularised the imports made under the EPCG licence after payment of duty and interest. In the light of the decisions of the Delhi and Chennai Benches, the impugned or... ... ...

Customs exemption for apparatus drawing circuit patterns on sensitised semiconductor materials - Customs exemption for multilayered photovoltaic backsheets with PVF base - Confiscation and redemption fine for finally cleared imported goods - Penalty contingent upon confiscability of goods Apparatus for drawing circuit patterns on sensitised semiconductor materials - Interpretation of customs exemption notifications - Eligibility of MBB-PV Cell Soldering Stringer, Auto-Layup, Auto-Bussing and ... ... ...

Conditional re-export of seized imported goods - Permission to re-export seized imported fabrics pending adjudication of the alleged tariff misclassification - HELD THAT: - Applying the Division Bench approach in an identical matter in Mahadev Enterprises [2022 (6) TMI 1189 - MADRAS HIGH COURT] the Court held that re-export could be permitted pending adjudication where the revenue interest was secured by a bond for the differential duty and a bank guarantee. The alleged misclassification was not... ... ...

Prospective operation of exemption notification - Provisional release of imported goods under the Customs Act Consideration of provisional release of imported second-hand digital multifunction print and copying machines-applicability of a subsequently effective exemption amendment - HELD THAT: - A statutory notification, unless it expressly provides otherwise, operates prospectively. As the bills of lading pre-dated the commencement of the amendment relied upon by the respondents, that amendm... ... ...

Prospective operation of exemption notifications - Provisional release of imported used digital multifunction print, copying and scanning machines Consideration of provisional release of imported used digital multifunction print, copying and scanning machines in the light of an amended exemption notification brought into force after the Bill of Lading - HELD THAT: - An exemption notification, unless expressly made retrospective, operates prospectively. Since the Bill of Lading preceded the co... ... ...

Binding nature of Board instructions on filing of appeals - Monetary threshold for filing appeals before CESTAT - Section 131BA - power to issue instructions regulating filing of appeals - Withdrawal of pending appeals below prescribed limit - Low tax effect as ground for non-maintainability of departmental appeal HELD THAT:- The learned counsel for the appellant fairly states that this Court has considered and dismissed a similar matter [2026 (8) TMI 664 - SC ORDER] In view of the above, ... ... ...

Pecuniary jurisdiction of Assessing Officer for scrutiny notice Validity of the scrutiny assessment founded on a notice u/s 143(2) issued by the ACIT where the CBDT Instruction vested pecuniary jurisdiction in the ITO and no transfer order preceded the notice - HELD THAT: - The additional jurisdictional ground was admitted as a pure legal question requiring no further verification. The Tribunal found that jurisdiction under the applicable CBDT Instruction lay with the ITO, whereas the ACIT is... ... ...

Salary received in India for overseas employment - India-Vietnam DTAA-employment income Taxability in India of salary received through an Indian payroll by a Vietnam tax resident for employment exercised and services rendered in Vietnam - HELD THAT: - The assessee was a resident of Vietnam under the India-Vietnam DTAA and rendered the relevant services with the Vietnamese entity in Vietnam. Article 16(1), read with section 90, therefore entitled the assessee to exemption for remuneration earn... ... ...

Unexplained expenditure and ad hoc profit estimation on recorded purchases - Enhancement of assessment without reasonable opportunity - Unexplained money-electronic communications and proof of ownership - Business expenditure-staff welfare, workers' accommodation and vehicle expenses Unexplained expenditure - recorded purchases - Ad hoc profit addition on genuine purchases - HELD THAT: - The purchases were recorded in the regular books, payments were through disclosed banking channels, an... ... ...

Charitable exemption - effect of pending section 12AB registration proceedings on statutory appeal against return-processing intimation - Separate statutory jurisdictions for registration and return-processing intimation Dismissal of the statutory appeal against an intimation denying exemption under section 11 as infructuous on account of pending registration proceedings under section 12AB - HELD THAT: - The jurisdiction to determine charitable registration and the jurisdiction to decide an a... ... ...

TP adjustment for notional interest on delayed trade receivables from associated enterprises of a debt-free assessee HELD THAT: - The Explanation to section 92B includes deferred payment, receivables and debts arising in the course of business within an international transaction; accordingly, delayed realisation beyond the credit period is capable of separate benchmarking. However, that characterisation does not by itself warrant an adjustment. A working-capital adjustment, being based on ... ... ...

Renewal of registration of institutions established otherwise than under an instrument Renewal of registration under section 12AB for religious and charitable institutions having no formal trust deed or memorandum of association - HELD THAT: - Rule 17A(2) separately provides for an applicant created or established under an instrument and one created or established otherwise than under an instrument. The latter must furnish documents evidencing its creation or establishment; consequently, the ... ... ...

Transfer-pricing tolerance band for a single-value internal comparable - Arm's length corporate guarantee commission - Notional interest on outstanding receivables-verification of third-party export credit policy Transfer-pricing tolerance band for a single-value internal comparable - Availability of the notified 3% tolerance band for the transfer-pricing adjustment on sale of two- and three-wheelers benchmarked against the assessee's non-AE and domestic segment - HELD THAT: - Having ... ... ...

Bogus purchases - gross-profit disallowance Disallowance for alleged bogus purchases of industrial chemicals where the corresponding sales were not questioned - HELD THAT: - Having regard to the assessee's wholesale business in industrial chemicals, the possibility of purchases from unregistered dealers could not be ruled out. Since the corresponding sales had not been questioned, the peculiar facts warranted only a lump-sum gross-profit disallowance rather than disallowance of the entire... ... ...

Non-genuine purchases - estimation of addition Disallowance of purchases alleged to be non-genuine where the declared sales and trading results were accepted but the evidence of actual movement of goods was incomplete - HELD THAT: - While the assessee produced invoices, GST returns and stock records, it did not furnish material such as transport documents, e-way bills, delivery challans, weighbridge slips and proof of movement of goods. Conversely, the Department could not disregard all the d... ... ...

Faceless reassessment - jurisdiction of Jurisdictional Assessing Officer - Draft assessment order in reassessment - Deduction for political contribution - Unexplained money - bank transactions - Deduction for ELSS mutual fund investment Faceless reassessment - jurisdiction of Jurisdictional Assessing Officer - Validity of the reassessment order passed by the Jurisdictional Assessing Officer after substantive proceedings had been conducted through the faceless mechanism - HELD THAT: - Though n... ... ...

Additional evidence for unexplained creditor balances and rebate claim - Agricultural income - proof of agricultural activity - Agricultural expenditure - evidentiary support - Share application money - short-term capital gain - Agricultural expenditure - estimation based on prior years Additional evidence for unexplained creditor balances - Unexplained cash credits - Admission and verification of additional ledger accounts and creditor confirmations supporting outstanding creditor balances t... ... ...

Intimatiofn under section 143(1) after issuance of scrutiny notice under section 143(2) Validity of an intimation under section 143(1) issued after notice under section 143(2), and of the scrutiny assessment founded on that intimation - HELD THAT: - Once scrutiny proceedings had been initiated by issuance of notice under section 143(2), processing of the return by an intimation under section 143(1) was legally impermissible. The scrutiny assessment could not validly retain the adjustment made... ... ...

TP Adjustment - aggregation of functionally distinct support -service and subcontract transactions - Notional interest on outstanding receivables - debt-free assessee Aggregation of functionally distinct international transactions - Aggregation for transfer-pricing benchmarking of support services rendered on a cost-plus basis and subcontract receipts arising from a full-risk entrepreneurial segment - HELD THAT: - The two revenue streams arose under separate agreements and involved materially... ... ...