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...
Separate corporate personality was upheld for the two foreign companies, and section 69A could not be applied because the Revenue failed to show by cogent evidence that their bank funds belonged beneficially to the assessee. Mere earlier shareholding, directorship, or authority to operate accounts was held insufficient to lift the corporate veil, especially when no material showed flow of funds from India to the companies or receipt by the assessee from those accounts. The assessee's explanation that the transactions related to his non-resident son and son-in-law was supported by confirmations, and his prior resignation and share transfer further weakened the ownership allegation. The quantum additions were deleted, and the related penalty under section 271(1)(c) also fell.
Separate corporate personality was upheld for the two foreign companies, and section 69A could not be applied because the Revenue failed to show by cogent evidence that their bank funds belonged beneficially to the assessee. Mere earlier shareholding, directorship, or authority to operate accounts was held insufficient to lift the corporate veil, especially when no material showed flow of funds from India to the companies or receipt by the assessee from those accounts. The assessee's explanation that the transactions related to his non-resident son and son-in-law was supported by confirmations, and his prior resignation and share transfer further weakened the ownership allegation. The quantum additions were deleted, and the related penalty under section 271(1)(c) also fell.
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