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...
Section 154 rectification applications must be filed within four years from the end of the financial year in which the order sought to be amended was passed. The notes state that section 154(7) is clear and unambiguous and contains no provision allowing condonation of delay for reasonable cause. On a literal construction, expiry of this period removes the authority's jurisdiction to entertain a rectification application, including applications seeking correction of income returned and processed under section 143(1). Accordingly, the delayed applications were treated as time-barred, their rejection was upheld, and the related appeals were dismissed.
Section 154 rectification applications must be filed within four years from the end of the financial year in which the order sought to be amended was passed. The notes state that section 154(7) is clear and unambiguous and contains no provision allowing condonation of delay for reasonable cause. On a literal construction, expiry of this period removes the authority's jurisdiction to entertain a rectification application, including applications seeking correction of income returned and processed under section 143(1). Accordingly, the delayed applications were treated as time-barred, their rejection was upheld, and the related appeals were dismissed.
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