Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
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The High Court held that the rejection of refund claim for Extra Duty Deposit (EDD) paid by the petitioner was unjustified. The EDD amount collected during Special Valuation Branch (SVB) proceedings was not a customs duty u/s 12 of the Customs Act, 1962. It was a deposit eligible for appropriation towards duty liability after final assessment. The amount over the payable duty should be refunded after Bill of Entry assessment, subject to no unjust enrichment u/s 27. The impugned order was set aside, and respondents were directed to complete proceedings within six months. The petition was allowed.
The High Court held that the rejection of refund claim for Extra Duty Deposit (EDD) paid by the petitioner was unjustified. The EDD amount collected during Special Valuation Branch (SVB) proceedings was not a customs duty u/s 12 of the Customs Act, 1962. It was a deposit eligible for appropriation towards duty liability after final assessment. The amount over the payable duty should be refunded after Bill of Entry assessment, subject to no unjust enrichment u/s 27. The impugned order was set aside, and respondents were directed to complete proceedings within six months. The petition was allowed.
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