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...
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Revision u/s 263 - As per CIT assessee firm has paid interest on unsecured loan of 3 ex-partners but not deducted TDS on the interest amount so paid as per provision of section 194A - the assessee has failed to demonstrate on merits that the view taken by the AO before passing assessment order was a plausible view as being taken after due enquiries on the issue under consideration. Thus, we uphold the finding of the PCITin categorizing the assessment as erroneous so far as prejudicial to the interest of the Revenue - AT
Revision u/s 263 - As per CIT assessee firm has paid interest on unsecured loan of 3 ex-partners but not deducted TDS on the interest amount so paid as per provision of section 194A - the assessee has failed to demonstrate on merits that the view taken by the AO before passing assessment order was a plausible view as being taken after due enquiries on the issue under consideration. Thus, we uphold the finding of the PCITin categorizing the assessment as erroneous so far as prejudicial to the interest of the Revenue - AT
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