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...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Unexplained creditor u/s. 68 - onus to prove - The ITAT ruled that once the identity of the creditor and the genuineness of the transaction are established, proving the creditor's capacity is not mandatory for the assessee. This is supported by the precedent set in "Labh Chand Bohra Vs. ITO" by the Rajasthan High Court, aligning with the doctrine that the onus shifts away from the assessee once the initial proof of transaction is provided.
Unexplained creditor u/s. 68 - onus to prove - The ITAT ruled that once the identity of the creditor and the genuineness of the transaction are established, proving the creditor's capacity is not mandatory for the assessee. This is supported by the precedent set in "Labh Chand Bohra Vs. ITO" by the Rajasthan High Court, aligning with the doctrine that the onus shifts away from the assessee once the initial proof of transaction is provided.
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