Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
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The ITAT Visakhapatnam addressed an addition u/s 69A for unexplained cash deposits in the bank account. The assessee failed to explain the sources for cash deposits, leading to scrutiny under CASS. The tribunal found that deposits made before demonetisation were included beyond the limited scrutiny scope. Cash deposits during demonetisation were claimed as gifts from parents. Partial relief was granted based on CBDT Instruction No.03/2017, allowing relief for deposits up to specified limits without further verification. Further relief of Rs. 5,00,000 was granted for pre-demonetisation deposits, while the remaining addition was upheld due to lack of evidence on transactions during demonetisation. The tribunal partly allowed the assessee's grounds.
The ITAT Visakhapatnam addressed an addition u/s 69A for unexplained cash deposits in the bank account. The assessee failed to explain the sources for cash deposits, leading to scrutiny under CASS. The tribunal found that deposits made before demonetisation were included beyond the limited scrutiny scope. Cash deposits during demonetisation were claimed as gifts from parents. Partial relief was granted based on CBDT Instruction No.03/2017, allowing relief for deposits up to specified limits without further verification. Further relief of Rs. 5,00,000 was granted for pre-demonetisation deposits, while the remaining addition was upheld due to lack of evidence on transactions during demonetisation. The tribunal partly allowed the assessee's grounds.
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