Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
Determination of long term capital gain u/s 50C - The Tribunal observed that the part payment of consideration was received by the assessee prior to the execution of the agreement to sale. Furthermore, the sale consideration declared by the assessee was significantly higher than the prevailing jantri rate at the time of the agreement. Therefore, the Tribunal held that the assessee was entitled to the benefit of the first and second provisos to Section 50C.
Determination of long term capital gain u/s 50C - The Tribunal observed that the part payment of consideration was received by the assessee prior to the execution of the agreement to sale. Furthermore, the sale consideration declared by the assessee was significantly higher than the prevailing jantri rate at the time of the agreement. Therefore, the Tribunal held that the assessee was entitled to the benefit of the first and second provisos to Section 50C.
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