Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
Valuation - treatment of the trade discount as additional consideration - The Tribunal noted that the transaction value should be determined based on commercial considerations, especially when the buyer and seller are not related. - The Tribunal distinguished the case from previous decisions involving oil marketing companies (OMCs) and upheld the appellant's contention that the transactions with OMCs were on a principal-to-principal basis. It was observed that there was no evidence of a service contract between the appellant and OMCs.
Valuation - treatment of the trade discount as additional consideration - The Tribunal noted that the transaction value should be determined based on commercial considerations, especially when the buyer and seller are not related. - The Tribunal distinguished the case from previous decisions involving oil marketing companies (OMCs) and upheld the appellant's contention that the transactions with OMCs were on a principal-to-principal basis. It was observed that there was no evidence of a service contract between the appellant and OMCs.
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