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...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
An intimation under return processing is not a regular assessment, so no opinion was formed and the change-of-opinion objection could not invalidate reopening; the reassessment quashment was set aside and the matter remanded for de novo appellate adjudication. On alleged bogus long-term capital gains from penny stock transactions, the Tribunal held that unrefuted documents showing purchase, demat holding and exchange sale, coupled with the absence of any specific material linking the assessee to entry operators, price rigging or exit providers, could not be displaced by suspicion or human probabilities alone; the additions for unexplained cash credit and related commission were deleted. The same reasoning applied to the later year, and the Revenue's appeal was dismissed.
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