Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Valuation of export goods - Iron Ore Fines - transaction value - FOB price - Export duty - The appellant contested this, arguing that unless the Revenue disputes the transaction value with corroborative evidence, it should be considered valid, citing relevant case laws. The Tribunal concurred, emphasizing that the Revenue had not doubted the transaction value and had not followed sequential valuation rules before adopting contemporaneous values. As the Revenue did not contest the Adjudicating Authority's findings, the transaction value's correctness was upheld, and the appeal was allowed.
Valuation of export goods - Iron Ore Fines - transaction value - FOB price - Export duty - The appellant contested this, arguing that unless the Revenue disputes the transaction value with corroborative evidence, it should be considered valid, citing relevant case laws. The Tribunal concurred, emphasizing that the Revenue had not doubted the transaction value and had not followed sequential valuation rules before adopting contemporaneous values. As the Revenue did not contest the Adjudicating Authority's findings, the transaction value's correctness was upheld, and the appeal was allowed.
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