Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Imported LCD panels were correctly classified under CTH 9013 because the goods had to be assessed as imported, and a specific heading naming liquid crystal devices prevails over generic motor-vehicle parts headings in CTH 8708/8714. Note 2(g) to Section XVII excludes Chapter 90 articles, and Note 3 could not override that exclusion merely because the panels were suitable for use in automotive instrument clusters. The Tribunal also rejected allegations of misdeclaration and suppression, finding no statutory requirement to declare end-use in the manner suggested, and that the Bills of Entry and supporting documents accurately described the goods. The demand was therefore barred by limitation and the extended period under Section 28(4) was unavailable.
Imported LCD panels were correctly classified under CTH 9013 because the goods had to be assessed as imported, and a specific heading naming liquid crystal devices prevails over generic motor-vehicle parts headings in CTH 8708/8714. Note 2(g) to Section XVII excludes Chapter 90 articles, and Note 3 could not override that exclusion merely because the panels were suitable for use in automotive instrument clusters. The Tribunal also rejected allegations of misdeclaration and suppression, finding no statutory requirement to declare end-use in the manner suggested, and that the Bills of Entry and supporting documents accurately described the goods. The demand was therefore barred by limitation and the extended period under Section 28(4) was unavailable.
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TaxTMI 
TaxTMI 
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