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...
Addition of interest on interest free loans advanced by assessee Company to sister concerns/related parties disallowed. Onus on assessee to prove commercial expediency for advances taken interest free from related parties. Assessee failed to substantiate commercial expediency for interest free advance to related party M/s. Diehard Dies Pvt. Limited. CIT(A) erred in considering transaction arose out of business/commercial expediency. Order of CIT(A) set aside, restoring AO's order. Revenue's appeal allowed.
Addition of interest on interest free loans advanced by assessee Company to sister concerns/related parties disallowed. Onus on assessee to prove commercial expediency for advances taken interest free from related parties. Assessee failed to substantiate commercial expediency for interest free advance to related party M/s. Diehard Dies Pvt. Limited. CIT(A) erred in considering transaction arose out of business/commercial expediency. Order of CIT(A) set aside, restoring AO's order. Revenue's appeal allowed.
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