Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
In transfer pricing for sale of goods to associated enterprises, the Tribunal accepted TNMM at entity level and rejected the internal cost plus method because earlier coordinate bench decisions on identical facts had already approved TNMM, and no material factual change was shown; the transfer pricing adjustment was deleted. On reversal of provisions, it held that amounts already disallowed when created cannot be taxed again on reversal, but remitted the issue to the Assessing Officer for verification of the claimed accounting mismatch and reconciliation. For short grant of TDS/TCS credit, it directed factual verification from Form 26AS, AIS and supporting records, with due credit to be allowed in accordance with law.
In transfer pricing for sale of goods to associated enterprises, the Tribunal accepted TNMM at entity level and rejected the internal cost plus method because earlier coordinate bench decisions on identical facts had already approved TNMM, and no material factual change was shown; the transfer pricing adjustment was deleted. On reversal of provisions, it held that amounts already disallowed when created cannot be taxed again on reversal, but remitted the issue to the Assessing Officer for verification of the claimed accounting mismatch and reconciliation. For short grant of TDS/TCS credit, it directed factual verification from Form 26AS, AIS and supporting records, with due credit to be allowed in accordance with law.
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