Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Undervaluation of imported goods - Patchouli Oil - The CESTAT found that the rejection of the declared value lacked legal basis and was unsupported by evidence. The Tribunal emphasized the importance of comparability in valuation and noted the lack of evidence in this regard. Additionally, the court clarified that the insurance value should not influence customs valuation. Finally, the penalty imposed on the director of the appellant company was set aside due to the lack of evidence of deliberate violation of customs laws. As a result, the appeals filed by the appellants were allowed.
Undervaluation of imported goods - Patchouli Oil - The CESTAT found that the rejection of the declared value lacked legal basis and was unsupported by evidence. The Tribunal emphasized the importance of comparability in valuation and noted the lack of evidence in this regard. Additionally, the court clarified that the insurance value should not influence customs valuation. Finally, the penalty imposed on the director of the appellant company was set aside due to the lack of evidence of deliberate violation of customs laws. As a result, the appeals filed by the appellants were allowed.
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