Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
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