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Supreme Court Dismisses Appeal of 100% EOU in Customs Duty Case for Unauthorized DTA Sales of Cut Flowers. Cut Flowers Held Non-Excisable, Duty Leviable on Inputs Under Notification No. 126/94-Cus as Amended, Extended Limitation Period Invoked for Wilful Suppression.

The appeal arises from a dispute between M/s. L.R. Brothers Indo Flora Ltd., a 100% Export Oriented Unit (EOU) engaged in floriculture, and the Commis...

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Bombay High Court Partially Allows Challenge to SAFEMA Forfeiture Order — Agricultural Land Acquired Prior to Detention Exempt from Forfeiture. Property acquired before the 'illegal' period under Section 2(2)(b) of SAFEMA cannot be forfeited; appellate authority's order partly confirmed.

The petitioner, Ranchhodbhai Bhagwanbhai Tandel (since deceased, through his legal heir Naresh Ranchhodbhai Tandel), filed a criminal writ petition un...

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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case on Dividend Distribution Tax Rate. DDT under Section 115-O is a tax on the company, not on shareholders, and the India-UK DTAA does not provide a lower rate for DDT.

The Bombay High Court dismissed a batch of seven appeals filed by Foseco India Ltd. under Section 260A of the Income Tax Act, 1961, challenging a comm...

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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

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Supreme Court Allows Deduction Under Section 80HH on Gross Profits Without Deducting Depreciation and Investment Allowance. The Court Overruled Motilal Pesticides and Held That Section 80HH Deduction Is Computed on 'Profits and Gains' Not 'Income'.

The Supreme Court considered a batch of civil appeals concerning the interpretation of Section 80HH of the Income Tax Act, 1961, for the Assessment Ye...

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Bombay High Court Sets Aside Arbitral Award in Favor of PepsiCo Due to Absence of Valid Arbitration Agreement. The Court Held That Without a Signed Contract Containing an Arbitration Clause, the Arbitrator Lacked Jurisdiction to Entertain the Claim.

The case involves a challenge by PepsiCo India Holding Pvt. Ltd. (Petitioner) against an arbitral award dated 7 January 2010 passed by a sole arbitrat...