Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Where consideration for immovable property is paid wholly or partly through banking channels on or before the allotment or agreement date, the proviso to section 56(2)(x)(b)(B) requires stamp duty value to be taken as on that date, not the registration date. The lower authorities' reliance on registration-date valuation was treated as inconsistent with that proviso. Because the assessee produced a ready reckoner extract and valuation report relevant to the allotment date, that material was admitted as additional evidence, and the matter was sent back for verification of the valuation and fresh decision after hearing the assessee.
Where consideration for immovable property is paid wholly or partly through banking channels on or before the allotment or agreement date, the proviso to section 56(2)(x)(b)(B) requires stamp duty value to be taken as on that date, not the registration date. The lower authorities' reliance on registration-date valuation was treated as inconsistent with that proviso. Because the assessee produced a ready reckoner extract and valuation report relevant to the allotment date, that material was admitted as additional evidence, and the matter was sent back for verification of the valuation and fresh decision after hearing the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
