Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
Valuation of imported goods - loading of the value on the bill of entries filed by the appellant without issuance of re-assessment order in terms of Section 17 (5) of the Customs Act, 1962 - Plain reading of the Section 17 (5) show that acceptance of re-assessment made has to be in writing, which means that re- assessment order needs to be accepted positively by the importer and it cannot be derived in an implied manner that re- assessment order has been accepted. - The documents relied upon by the Commissioner (Appeal) were never made available to appellant for replying to the same either by Commissioner (Appeal) or the assessing officer. Thus the impugned order has been passed contrary to the settled principles of natural justice and has no legs to stand on - AT
Valuation of imported goods - loading of the value on the bill of entries filed by the appellant without issuance of re-assessment order in terms of Section 17 (5) of the Customs Act, 1962 - Plain reading of the Section 17 (5) show that acceptance of re-assessment made has to be in writing, which means that re- assessment order needs to be accepted positively by the importer and it cannot be derived in an implied manner that re- assessment order has been accepted. - The documents relied upon by the Commissioner (Appeal) were never made available to appellant for replying to the same either by Commissioner (Appeal) or the assessing officer. Thus the impugned order has been passed contrary to the settled principles of natural justice and has no legs to stand on - AT
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