Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
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Valuation of imported goods - undervaluation of aluminium and zinc scrap of various grades imported from overseas suppliers. Redetermination of value based on import price being lower than prevailing London Metal Exchange (LME) prices. Held: Valuation u/s 14 mandates value as price at which goods ordinarily sold or offered for sale at time and place of importation in international trade, considering deemed value where seller and buyer have no business interest and price is sole consideration. Appellant entered contracts with overseas suppliers, goods supplied under commercial invoices. No evidence of additional payment or business interest between parties. LME prices cannot be sole evidence to substantiate undervaluation charge when contemporaneous imports at similar prices available. Transaction value cannot be rejected without contemporaneous evidence. Demands and penalties unsustainable, impugned order set aside, appeal allowed.
Valuation of imported goods - undervaluation of aluminium and zinc scrap of various grades imported from overseas suppliers. Redetermination of value based on import price being lower than prevailing London Metal Exchange (LME) prices. Held: Valuation u/s 14 mandates value as price at which goods ordinarily sold or offered for sale at time and place of importation in international trade, considering deemed value where seller and buyer have no business interest and price is sole consideration. Appellant entered contracts with overseas suppliers, goods supplied under commercial invoices. No evidence of additional payment or business interest between parties. LME prices cannot be sole evidence to substantiate undervaluation charge when contemporaneous imports at similar prices available. Transaction value cannot be rejected without contemporaneous evidence. Demands and penalties unsustainable, impugned order set aside, appeal allowed.
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