Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Related-party imports justified rejection of the declared transaction value because common ownership and control created reasonable doubt as to its truth and accuracy under Rule 10A. After that rejection, valuation had to proceed strictly in sequence under the Customs Valuation Rules; a composite and unsupported resort to Rule 8, including use of domestic sale prices and an assumed average undervaluation, was unsustainable. Only the leather straps valuation was supported by duplicate invoices and could be adopted under Rule 5, so the demand was sustained only to that limited extent, while confiscation, redemption fine and penalties fell with the reassessment.
Related-party imports justified rejection of the declared transaction value because common ownership and control created reasonable doubt as to its truth and accuracy under Rule 10A. After that rejection, valuation had to proceed strictly in sequence under the Customs Valuation Rules; a composite and unsupported resort to Rule 8, including use of domestic sale prices and an assumed average undervaluation, was unsustainable. Only the leather straps valuation was supported by duplicate invoices and could be adopted under Rule 5, so the demand was sustained only to that limited extent, while confiscation, redemption fine and penalties fell with the reassessment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
