Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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In the case before CESTAT Bangalore, the issue revolved around mis-declaration of import value, duty demand, confiscation of goods, and penalty imposition. The appellant, a 100% EOU providing software development services, imported a semi-conductor fabrication system. The appellant declared the value based on the supplier's proforma invoice, which was later found to be undervalued due to the goods being used. The Chartered Engineer enhanced the value, impacting the export obligation. The tribunal held that there was no intentional mis-declaration or suppression by the appellant, as the declared value was based on the proforma invoice. Consequently, the confiscation order and penalty imposed under section 112(a)(ii) were set aside.
In the case before CESTAT Bangalore, the issue revolved around mis-declaration of import value, duty demand, confiscation of goods, and penalty imposition. The appellant, a 100% EOU providing software development services, imported a semi-conductor fabrication system. The appellant declared the value based on the supplier's proforma invoice, which was later found to be undervalued due to the goods being used. The Chartered Engineer enhanced the value, impacting the export obligation. The tribunal held that there was no intentional mis-declaration or suppression by the appellant, as the declared value was based on the proforma invoice. Consequently, the confiscation order and penalty imposed under section 112(a)(ii) were set aside.
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