Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Valuation of imported goods - ‘deductive value’ method - various types of cosmetics - the original authority has improperly proceeded beyond the preceding methods in the sequential enumeration. The first appellate authority, in endorsing the re-determination, had failed to take note of breach of this prescriptionin Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. Accordingly, the resort to deductive value for assessment is incorrect. - AT
Valuation of imported goods - ‘deductive value’ method - various types of cosmetics - the original authority has improperly proceeded beyond the preceding methods in the sequential enumeration. The first appellate authority, in endorsing the re-determination, had failed to take note of breach of this prescriptionin Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. Accordingly, the resort to deductive value for assessment is incorrect. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
