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...
Revisional power over an assessment requires the order to be both erroneous and prejudicial to the Revenue; it cannot be used to replace a legally plausible view already taken after inquiry. Here, the Assessing Officer examined alleged bogus purchases and made an addition of 12.5%, so the dispute was only over the quantum and manner of addition, not a lack of inquiry. As no illegality was shown in the assessment view, revision under Section 263 was not available, and the Tribunal's setting aside of the revisional order was upheld.
Revisional power over an assessment requires the order to be both erroneous and prejudicial to the Revenue; it cannot be used to replace a legally plausible view already taken after inquiry. Here, the Assessing Officer examined alleged bogus purchases and made an addition of 12.5%, so the dispute was only over the quantum and manner of addition, not a lack of inquiry. As no illegality was shown in the assessment view, revision under Section 263 was not available, and the Tribunal's setting aside of the revisional order was upheld.
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