Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Levy of interest u/s 234A and 234B - defaults in furnishing return of income - The Case and situation pertains to situations where the original assessment is set aside during appellate proceedings for fresh assessment. In such cases, there is contention between the Revenue and the assessee regarding whether the subsequent assessment should be considered the regular assessment or if it is still the first assessment. - Since the existing precedents failed to address the changed legal scenario and legislative amendments, the Tribunal deemed it necessary to reexamine the computation of interest under sections 234A and 234B. - Therefore, the Tribunal decided to remand the issue back to the ld. CIT(A) for fresh consideration, allowing both parties to present their arguments and considering all relevant decisions.
Levy of interest u/s 234A and 234B - defaults in furnishing return of income - The Case and situation pertains to situations where the original assessment is set aside during appellate proceedings for fresh assessment. In such cases, there is contention between the Revenue and the assessee regarding whether the subsequent assessment should be considered the regular assessment or if it is still the first assessment. - Since the existing precedents failed to address the changed legal scenario and legislative amendments, the Tribunal deemed it necessary to reexamine the computation of interest under sections 234A and 234B. - Therefore, the Tribunal decided to remand the issue back to the ld. CIT(A) for fresh consideration, allowing both parties to present their arguments and considering all relevant decisions.
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