Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Forfeited refundable die-development deposits are characterised as liquidated damages where they are retained only on a customer's contractual breach, rather than consideration for the manufactured goods. Amounts enter transaction value only when directly and proximately connected with the sale and represent consideration; a valuation rule cannot convert contractual compensation into additional consideration. Consequently, including such deposits in assessable value is unsustainable. Extended limitation also does not apply merely because of an interpretational dispute or short-payment where contractual terms, deposits and accounting treatment were recorded and there is no evidence of deliberate concealment or intent to evade duty. Penalty cannot stand where the duty demand fails and the required intent-based misconduct is not established.
Forfeited refundable die-development deposits are characterised as liquidated damages where they are retained only on a customer's contractual breach, rather than consideration for the manufactured goods. Amounts enter transaction value only when directly and proximately connected with the sale and represent consideration; a valuation rule cannot convert contractual compensation into additional consideration. Consequently, including such deposits in assessable value is unsustainable. Extended limitation also does not apply merely because of an interpretational dispute or short-payment where contractual terms, deposits and accounting treatment were recorded and there is no evidence of deliberate concealment or intent to evade duty. Penalty cannot stand where the duty demand fails and the required intent-based misconduct is not established.
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