Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Multiple assessments in the same Bills of Entry - Finalization of provisional assessment - The Tribunal clarified that the Customs Act allows for reassessment before goods are cleared for home consumption under Section 47. Thus, multiple assessments can be made as necessary until final clearance, supporting the customs authority's actions. - Further, the Tribunal found no requirement under the Customs Act for an SCN to be issued in the context of finalizing assessments after provisional assessments are made. It was determined that the written submissions by the importer were adequately considered, hence there was no violation of natural justice.
Multiple assessments in the same Bills of Entry - Finalization of provisional assessment - The Tribunal clarified that the Customs Act allows for reassessment before goods are cleared for home consumption under Section 47. Thus, multiple assessments can be made as necessary until final clearance, supporting the customs authority's actions. - Further, the Tribunal found no requirement under the Customs Act for an SCN to be issued in the context of finalizing assessments after provisional assessments are made. It was determined that the written submissions by the importer were adequately considered, hence there was no violation of natural justice.
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