Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
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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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