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...
Deduction u/s 80IB(10) for an undertaking developing and building housing projects approved before March 31 by a local authority. The scope of the definition of 'built-up area' was examined. The DVO's report showing violation related to two row houses having an area more than 1500 sq.ft. was not considered. It was held that for projects approved prior to April 1, 2005, the assessee could legitimately claim deduction u/s 80IB(10) based on the plans approved by the Planning Authority, as the concept of built-up area, including inner measurement, projections, balconies, and wall thickness, but excluding common areas, was not applicable. Applying such parameters retrospectively would lead to absurd results. The expression 'built-up area' introduced from April 1, 2005, cannot be applied retrospectively, and the Tribunal was justified in excluding the balcony area for the period up to April 1, 2005. The decision was in favor of the assessee.
Deduction u/s 80IB(10) for an undertaking developing and building housing projects approved before March 31 by a local authority. The scope of the definition of 'built-up area' was examined. The DVO's report showing violation related to two row houses having an area more than 1500 sq.ft. was not considered. It was held that for projects approved prior to April 1, 2005, the assessee could legitimately claim deduction u/s 80IB(10) based on the plans approved by the Planning Authority, as the concept of built-up area, including inner measurement, projections, balconies, and wall thickness, but excluding common areas, was not applicable. Applying such parameters retrospectively would lead to absurd results. The expression 'built-up area' introduced from April 1, 2005, cannot be applied retrospectively, and the Tribunal was justified in excluding the balcony area for the period up to April 1, 2005. The decision was in favor of the assessee.
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