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...
Sections 144C and 153 require harmonious construction when determining limitation for a final assessment made pursuant to DRP directions. The non-obstante clause in section 144C(13) does not displace the outer time limit under section 153; the final assessment must therefore be completed within that prescribed limitation period. Applying the binding High Court precedent, the ITAT treated the final assessment for Assessment Year 2018-19 as time-barred and quashed it. Merits grounds remained open, with liberty to seek revival if a Supreme Court decision requires modification.
Sections 144C and 153 require harmonious construction when determining limitation for a final assessment made pursuant to DRP directions. The non-obstante clause in section 144C(13) does not displace the outer time limit under section 153; the final assessment must therefore be completed within that prescribed limitation period. Applying the binding High Court precedent, the ITAT treated the final assessment for Assessment Year 2018-19 as time-barred and quashed it. Merits grounds remained open, with liberty to seek revival if a Supreme Court decision requires modification.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
