Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable time/quantities/commercial transactions at higher value. JSB Aluminium admitted declared value lower, accepted re-determination at higher price. Assessing Officer not required to give reasons for rejection when value admitted lower. Supreme Court precedents - admitted facts need not be proved, transaction value rejectable without cogent evidence if value admitted lower. Commissioner (Appeals) order allowing appeals set aside, appeal by department allowed.
Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable time/quantities/commercial transactions at higher value. JSB Aluminium admitted declared value lower, accepted re-determination at higher price. Assessing Officer not required to give reasons for rejection when value admitted lower. Supreme Court precedents - admitted facts need not be proved, transaction value rejectable without cogent evidence if value admitted lower. Commissioner (Appeals) order allowing appeals set aside, appeal by department allowed.
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