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...
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In a section 68 dispute over an unexplained unsecured loan, the High Court noted that the Tribunal had relied on the undisputed repayment of the loan through banking channels and its disclosure in the books. It accepted the Tribunal's view, supported by jurisdictional precedents, that such repayment and disclosure were sufficient to negate the addition in the absence of further material showing an accommodation entry. The Court found no error in deleting the addition, held that no substantial question of law arose, and dismissed the Revenue's appeals.
In a section 68 dispute over an unexplained unsecured loan, the High Court noted that the Tribunal had relied on the undisputed repayment of the loan through banking channels and its disclosure in the books. It accepted the Tribunal's view, supported by jurisdictional precedents, that such repayment and disclosure were sufficient to negate the addition in the absence of further material showing an accommodation entry. The Court found no error in deleting the addition, held that no substantial question of law arose, and dismissed the Revenue's appeals.
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