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...
Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well as intangible asset - further the assessee has also agreed for not carrying on the similar business for 10 years - it is a case of “slump sale” of undertaking as a going concern and not the sale of depreciable assets within the meaning of Section 50
Slump sale - if the sale consideration of the undertaking as a whole has been fixed without specifying any specific value to any asset and its includes tangible as well as intangible asset - further the assessee has also agreed for not carrying on the similar business for 10 years - it is a case of “slump sale” of undertaking as a going concern and not the sale of depreciable assets within the meaning of Section 50
Note: It is a system-generated summary and is for quick reference only.
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