Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
Transfer-pricing comparability requires functional alignment; delayed associated-enterprise receivables need separate LIBOR-based benchmarking, while ...
Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
Customs transaction value rejection requires communicated reasonable doubt, while written reassessment acceptance preserves challenges to enhanced val...
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 4915 
