Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Declared transaction value for imported second-hand machinery was held to remain acceptable where the load port Chartered Engineer's certificate supported the valuation and no relationship, extra remittance, or other circumstance displacing transaction value was shown. The customs authorities had merely substituted a local Chartered Engineer's certificate, based on unspecified market enquiries and without disclosed technical basis or testing, for contemporaneous import evidence. The Tribunal held that, in the absence of a speaking order and without challenging the genuineness of the load port certificate, rejection of the declared value and enhancement of value were untenable. The appellate order was set aside and assessment under Section 14 was directed on the declared value.
Declared transaction value for imported second-hand machinery was held to remain acceptable where the load port Chartered Engineer's certificate supported the valuation and no relationship, extra remittance, or other circumstance displacing transaction value was shown. The customs authorities had merely substituted a local Chartered Engineer's certificate, based on unspecified market enquiries and without disclosed technical basis or testing, for contemporaneous import evidence. The Tribunal held that, in the absence of a speaking order and without challenging the genuineness of the load port certificate, rejection of the declared value and enhancement of value were untenable. The appellate order was set aside and assessment under Section 14 was directed on the declared value.
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