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...
Interest differential credited to statutory development funds was treated as diverted at source under the scheme directions, so it was not taxable in the assessee's hands; the Tribunal followed its earlier orders in the assessee's own case and noted that the assessee acted only as a nodal or implementing agency. Promotional and developmental expenditure was also allowed because the assessee had been notified from financial year 2012-13, applicable from assessment year 2013-14, so the basis of disallowance failed. The Revenue's appeal was dismissed and the appellate order was upheld in full.
Interest differential credited to statutory development funds was treated as diverted at source under the scheme directions, so it was not taxable in the assessee's hands; the Tribunal followed its earlier orders in the assessee's own case and noted that the assessee acted only as a nodal or implementing agency. Promotional and developmental expenditure was also allowed because the assessee had been notified from financial year 2012-13, applicable from assessment year 2013-14, so the basis of disallowance failed. The Revenue's appeal was dismissed and the appellate order was upheld in full.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
