Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Amendment of bills of entry - The High court examined Section 149 of the Customs Act, which permits amendments of import documents under certain conditions. - HD found that the first proviso to Section 149 allows amendments even after goods are cleared for home consumption, subject to the condition of existence of documentary evidence at the time of clearance. - As regards the requirement that the importer should establish that the goods originated from Australia, as discussed earlier, this aspect should be determined by examining the certificate of origin and any other relevant documents. - Matter restored back.
Amendment of bills of entry - The High court examined Section 149 of the Customs Act, which permits amendments of import documents under certain conditions. - HD found that the first proviso to Section 149 allows amendments even after goods are cleared for home consumption, subject to the condition of existence of documentary evidence at the time of clearance. - As regards the requirement that the importer should establish that the goods originated from Australia, as discussed earlier, this aspect should be determined by examining the certificate of origin and any other relevant documents. - Matter restored back.
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