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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...
The Appellate Tribunal held that denial of interest on delayed refund of Dividend Distribution Tax (DDT) was incorrect. Lower authorities misinterpreted section 244A(1) and wrongly applied subsequent part of the section. Citing ITC Ltd. case, it emphasized that interest payment is a statutory obligation to the assessee. The Tribunal found the denial of interest illegal and set aside the order, ruling that the assessee is entitled to interest on DDT refund from the date of excess tax payment. Assessee's appeal was allowed.
The Appellate Tribunal held that denial of interest on delayed refund of Dividend Distribution Tax (DDT) was incorrect. Lower authorities misinterpreted section 244A(1) and wrongly applied subsequent part of the section. Citing ITC Ltd. case, it emphasized that interest payment is a statutory obligation to the assessee. The Tribunal found the denial of interest illegal and set aside the order, ruling that the assessee is entitled to interest on DDT refund from the date of excess tax payment. Assessee's appeal was allowed.
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