Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Rejection of declared transaction value was sustained because the importer and overseas suppliers were owned or controlled by the same persons, creating reasonable doubt about the truth of the declared price under customs valuation rules. Once transaction value was rejected, valuation had to proceed strictly in sequence through the prescribed rules; the authority could not combine rules or apply Rule 8 on an unspecified basis. Arbitrary loading based on an average undervaluation percentage was impermissible. Redetermination survived only for consignments where an actual invoice established the true value and for undeclared goods supported by contemporaneous imports. Confiscation, redemption fine and penalties under multiple provisions were set aside.
Rejection of declared transaction value was sustained because the importer and overseas suppliers were owned or controlled by the same persons, creating reasonable doubt about the truth of the declared price under customs valuation rules. Once transaction value was rejected, valuation had to proceed strictly in sequence through the prescribed rules; the authority could not combine rules or apply Rule 8 on an unspecified basis. Arbitrary loading based on an average undervaluation percentage was impermissible. Redetermination survived only for consignments where an actual invoice established the true value and for undeclared goods supported by contemporaneous imports. Confiscation, redemption fine and penalties under multiple provisions were set aside.
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