CESTAT Ahmedabad held that as appellant has not exited from Special Economic Zone (SEZ), they are not eligible for clearing capital goods under the prevalent Export Promotion Capital Goods Scheme (EPCG Scheme).
Delhi High Court held that the petitioner is liable to pay excise duty on leftover stock of liquor transferred by two erstwhile licensees, both the erstwhile licensees and the Petitioner are one and the same. The manufacturer and seller of the liquor was only one i.e. the Petitioner and hence excise duty payable.
CESTAT Delhi held that revocation of customs broker licence and penalty action thereof on customs broker justified as he duly facilitated export of Prohibited items i.e. Gutkha pouches.
ITAT Chennai held that addition based merely on presumptions and assumptions and without allowing cross-examination is unsustainable in law and liable to be set aside.
CESTAT Mumbai held that Cenvat credit can be availed for clearance of dyed yarn, if the duty is paid at the doubling stage.
ITAT Mumbai held that initiation of reassessment proceedings under section 147 of the Income Tax Act based on the information received from the investigation wing is valid and sustainable in law.
CESTAT Chennai held that as per Rule 7 of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 (CVR, 2007), “general expenses” in connection with sales in India are to be deducted from the sale price of imported goods/ identical/similar imported goods while arriving at the deductive value of the goods.
ITAT Delhi held that the date of dispatch from the adjudicating officer is relevant for determining the limitation period. Accordingly, assessment order dispatched beyond time limit prescribed u/s. 153(1) is barred by limitation.
CESTAT Ahmedabad held that actual oil quantity physically received into the shore tank should be taken as the basis for payment of duty at the time of ex-bond bills of entry.
ITAT Amritsar held that once source of surrendered income is proved to be business income, the same cannot be taxed as deemed income under section 69 read with section 115BBE of the Income Tax Act.
