Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Misdeclaration of the transaction value - Import of Copper Cathodes - Acceptance of loaded value of the consignments earlier - The tribunal noted that apart from the discrepancy in dates between the invoice and bill of lading, the revenue authority provided no valid reason to reject the declared value. The appellant's explanation regarding the variation in price was considered normal trade practice and was not refuted with evidence or reasoning by the revenue authority. Therefore, the tribunal ruled that the declared value should be accepted. - The tribunal affirmed that past acceptance of loaded values did not bind the appellant to accept the re-assessed value in the current case.
Misdeclaration of the transaction value - Import of Copper Cathodes - Acceptance of loaded value of the consignments earlier - The tribunal noted that apart from the discrepancy in dates between the invoice and bill of lading, the revenue authority provided no valid reason to reject the declared value. The appellant's explanation regarding the variation in price was considered normal trade practice and was not refuted with evidence or reasoning by the revenue authority. Therefore, the tribunal ruled that the declared value should be accepted. - The tribunal affirmed that past acceptance of loaded values did not bind the appellant to accept the re-assessed value in the current case.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
