Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Validity of Re-determination of Value - Goods have already been cleared from the port of import after examination and enhancement of value - The Appellate Tribunal found that the Department erred in re-determining the value of the imported goods, especially considering that the assessment orders had already been finalized and not challenged. The Tribunal ruled that the Department lacked the authority to subject the same machines to another examination and assessment. - The Tribunal concurred with the appellants’ interpretation of Customs Valuation Rules, particularly regarding the inapplicability of the depreciation method and the impermissibility of re-enhancing value after import clearance.
Validity of Re-determination of Value - Goods have already been cleared from the port of import after examination and enhancement of value - The Appellate Tribunal found that the Department erred in re-determining the value of the imported goods, especially considering that the assessment orders had already been finalized and not challenged. The Tribunal ruled that the Department lacked the authority to subject the same machines to another examination and assessment. - The Tribunal concurred with the appellants’ interpretation of Customs Valuation Rules, particularly regarding the inapplicability of the depreciation method and the impermissibility of re-enhancing value after import clearance.
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