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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...
Blocked input tax credit on construction of immovable property remained unavailable where the taxpayer was engaged in renting immovable property, used works contract services for construction, and the credit fell within clauses (c) and (d) of Section 17(5). The Court also treated the claim as belated because the credit was not taken within the statutory time limit under Section 16. It held that a unilateral letter proposing availment did not amount to departmental approval, and that availing a much larger credit without concurrence justified invocation of fraud and suppression, the extended limitation period, and Section 74. The challenge to the common notice covering multiple tax periods also failed.
Blocked input tax credit on construction of immovable property remained unavailable where the taxpayer was engaged in renting immovable property, used works contract services for construction, and the credit fell within clauses (c) and (d) of Section 17(5). The Court also treated the claim as belated because the credit was not taken within the statutory time limit under Section 16. It held that a unilateral letter proposing availment did not amount to departmental approval, and that availing a much larger credit without concurrence justified invocation of fraud and suppression, the extended limitation period, and Section 74. The challenge to the common notice covering multiple tax periods also failed.
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