Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
Imported cement qualified for concessional CVD under Clause 1C because the decisive test was whether it was intended for retail sale, not merely whether it was packed in 50 kg bags or bore a printed RSP. The department had no evidence of actual retail sale, and supply only to industrial and institutional consumers supported the benefit. Reassessment by substituting a contemporaneous RSP was rejected because no proper valuation exercise under customs law was shown and the dispute was not one of transaction value. The extended limitation also failed, as assessed Bills of Entry had been scrutinised by officers and no wilful suppression or misstatement was proved, so duty, interest and penalty could not stand.
Imported cement qualified for concessional CVD under Clause 1C because the decisive test was whether it was intended for retail sale, not merely whether it was packed in 50 kg bags or bore a printed RSP. The department had no evidence of actual retail sale, and supply only to industrial and institutional consumers supported the benefit. Reassessment by substituting a contemporaneous RSP was rejected because no proper valuation exercise under customs law was shown and the dispute was not one of transaction value. The extended limitation also failed, as assessed Bills of Entry had been scrutinised by officers and no wilful suppression or misstatement was proved, so duty, interest and penalty could not stand.
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