Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Self-assessment under customs law may be corrected through amendment of a bill of entry where the importer shows an inadvertent misclassification supported by contemporaneous documentary evidence. The Tribunal noted that self-assessment is an assessment, but correction is not confined to the appellate route; amendment and correction powers can be invoked for accidental slips or omissions after clearance. A request made shortly after filing bills of entry was therefore capable of consideration under the statutory amendment and correction provisions, and rejection solely because no appeal had been filed was unsustainable. The impugned order was set aside and relief followed as per law.
Self-assessment under customs law may be corrected through amendment of a bill of entry where the importer shows an inadvertent misclassification supported by contemporaneous documentary evidence. The Tribunal noted that self-assessment is an assessment, but correction is not confined to the appellate route; amendment and correction powers can be invoked for accidental slips or omissions after clearance. A request made shortly after filing bills of entry was therefore capable of consideration under the statutory amendment and correction provisions, and rejection solely because no appeal had been filed was unsustainable. The impugned order was set aside and relief followed as per law.
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