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...
Under the substituted reassessment regime effective from 1 April 2021, issuance of a notice under section 148 and an order under section 148A(d) required prior approval from the specified authority in section 151. Where more than three years had elapsed from the end of the relevant assessment year, approval had to come from the higher authority identified in section 151(ii); approval by a Principal Commissioner was insufficient. The proviso allowing exclusion of time spent under section 148A(b), inserted by the Finance Act 2023, was treated as prospective. On that basis, the reopening was held invalid.
Under the substituted reassessment regime effective from 1 April 2021, issuance of a notice under section 148 and an order under section 148A(d) required prior approval from the specified authority in section 151. Where more than three years had elapsed from the end of the relevant assessment year, approval had to come from the higher authority identified in section 151(ii); approval by a Principal Commissioner was insufficient. The proviso allowing exclusion of time spent under section 148A(b), inserted by the Finance Act 2023, was treated as prospective. On that basis, the reopening was held invalid.
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