Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Valuation of the export goods on which duty has to be paid - The Appellate Tribunal upholds the appellant's contention regarding the determination of the transaction value. It asserts that customs authorities cannot alter the transaction value agreed upon by the buyer and seller. The transaction value, as per the contract terms, remains binding, and customs authorities cannot disregard it based on conflicting test reports. The Tribunal concludes that the re-determination of the transaction value based on the CRCL test report is incorrect and cannot be sustained. - The Tribunal rules in favor of the appellant regarding the inclusion of the additional amount paid by the overseas buyer as commission. It emphasizes that commissions paid cannot be added to the transaction value for export goods.
Valuation of the export goods on which duty has to be paid - The Appellate Tribunal upholds the appellant's contention regarding the determination of the transaction value. It asserts that customs authorities cannot alter the transaction value agreed upon by the buyer and seller. The transaction value, as per the contract terms, remains binding, and customs authorities cannot disregard it based on conflicting test reports. The Tribunal concludes that the re-determination of the transaction value based on the CRCL test report is incorrect and cannot be sustained. - The Tribunal rules in favor of the appellant regarding the inclusion of the additional amount paid by the overseas buyer as commission. It emphasizes that commissions paid cannot be added to the transaction value for export goods.
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