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 held in favor of the assessee regarding addition towards prior period expenses, citing consistency in previous rulings and emphasizing the assessing officer's obligation to consider the status as a whole. The Tribunal rejected the disallowance u/s 40(a)(ia) for demurrage charges, noting the nature of payments to foreign shipping companies and applicability of relevant Board Circular. TDS credit was denied initially due to non-inclusion in Form-26AS, but the Tribunal referred to CBDT Circular allowing credit based on original Form-16A submission, directing verification by the assessing officer. The Tribunal upheld the charging of interest u/s 234C, citing the lack of provision for waiver despite financial restructuring.
The Appellate Tribunal held in favor of the assessee regarding addition towards prior period expenses, citing consistency in previous rulings and emphasizing the assessing officer's obligation to consider the status as a whole. The Tribunal rejected the disallowance u/s 40(a)(ia) for demurrage charges, noting the nature of payments to foreign shipping companies and applicability of relevant Board Circular. TDS credit was denied initially due to non-inclusion in Form-26AS, but the Tribunal referred to CBDT Circular allowing credit based on original Form-16A submission, directing verification by the assessing officer. The Tribunal upheld the charging of interest u/s 234C, citing the lack of provision for waiver despite financial restructuring.
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