Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Claim of duty drawback, refund of IGST and state levies - Valuation of export goods - The Tribunal's decision underscores the importance of adhering to the legal provisions and procedures for valuation of export goods, particularly emphasizing the primary basis of transaction value for valuation, and the necessity for Customs authorities to quickly undertake necessary actions like tests or inquiries to minimize detention of goods. The decision also reflects the principle that penal liability for overvaluation cannot be fastened on exporters in the absence of substantial evidence or proper application of valuation rules. - AT
Claim of duty drawback, refund of IGST and state levies - Valuation of export goods - The Tribunal's decision underscores the importance of adhering to the legal provisions and procedures for valuation of export goods, particularly emphasizing the primary basis of transaction value for valuation, and the necessity for Customs authorities to quickly undertake necessary actions like tests or inquiries to minimize detention of goods. The decision also reflects the principle that penal liability for overvaluation cannot be fastened on exporters in the absence of substantial evidence or proper application of valuation rules. - AT
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