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...
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The Appellate Tribunal considered an assessment u/ss 153A/153C, focusing on additions based on seized documents for the relevant assessment year and unrecorded transactions. The Tribunal noted that the Assessing Officer did not specify in the order that the seized documents pertained to the assessment year in question and that the transactions were not in the books of account. It was emphasized that section 153C can only be applied if incriminating material seized during a search relates to the relevant assessment year. The Tribunal upheld the lower authority's decision as the Revenue failed to challenge the CIT(A)'s findings, resulting in the dismissal of the Revenue's appeal.
The Appellate Tribunal considered an assessment u/ss 153A/153C, focusing on additions based on seized documents for the relevant assessment year and unrecorded transactions. The Tribunal noted that the Assessing Officer did not specify in the order that the seized documents pertained to the assessment year in question and that the transactions were not in the books of account. It was emphasized that section 153C can only be applied if incriminating material seized during a search relates to the relevant assessment year. The Tribunal upheld the lower authority's decision as the Revenue failed to challenge the CIT(A)'s findings, resulting in the dismissal of the Revenue's appeal.
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