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...
Service tax on corporate guarantees arises only where consideration is received for rendering a taxable service. Corporate guarantees extended to associated enterprises without commission, fee or other consideration do not create taxable value merely because a notional amount can be computed using prevailing bank-guarantee rates. A precedent involving a corporate guarantee issued for paid consideration does not apply where the guarantee was provided without consideration. The demand for service tax on such guarantees was therefore dropped, and the Revenue's appeal was dismissed.
Service tax on corporate guarantees arises only where consideration is received for rendering a taxable service. Corporate guarantees extended to associated enterprises without commission, fee or other consideration do not create taxable value merely because a notional amount can be computed using prevailing bank-guarantee rates. A precedent involving a corporate guarantee issued for paid consideration does not apply where the guarantee was provided without consideration. The demand for service tax on such guarantees was therefore dropped, and the Revenue's appeal was dismissed.
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