Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Misdeclaration of aluminium goods led to reclassification of the live consignment as aluminium tubes under CTH 7608 2000, with declared value rejected on the strength of parallel invoices; confiscation was sustained, redemption fine reduced, penalty under Section 112(a) upheld, and penalty under Section 114AA set aside. For subsequent consignments, reclassification failed because no samples were drawn and no specific evidentiary finding identified the goods as tubes, so the demand, fine and penalties were set aside. For earlier imports, the extended period could not be invoked again on the same material, limiting duty only to admitted freight charges for the normal period. In the undervaluation matter, duty and interest survived only for the normal period, while penalties on the director and supplier-side officer were set aside.
Misdeclaration of aluminium goods led to reclassification of the live consignment as aluminium tubes under CTH 7608 2000, with declared value rejected on the strength of parallel invoices; confiscation was sustained, redemption fine reduced, penalty under Section 112(a) upheld, and penalty under Section 114AA set aside. For subsequent consignments, reclassification failed because no samples were drawn and no specific evidentiary finding identified the goods as tubes, so the demand, fine and penalties were set aside. For earlier imports, the extended period could not be invoked again on the same material, limiting duty only to admitted freight charges for the normal period. In the undervaluation matter, duty and interest survived only for the normal period, while penalties on the director and supplier-side officer were set aside.
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