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...
Assessee received cash consideration from sale of property, deposited in bank account and utilized to purchase another property. AO accepted transaction in regular assessment without addition. Assessee contended no violation of Section 269SS as cash received after due registration of property, as per sale agreement and CBDT circulars. ITAT allowed appeal, relying on Dhinagharan case, holding cash payment made at time of registration before sub-registrar does not violate Section 269SS. No penalty leviable u/s 271D.
Assessee received cash consideration from sale of property, deposited in bank account and utilized to purchase another property. AO accepted transaction in regular assessment without addition. Assessee contended no violation of Section 269SS as cash received after due registration of property, as per sale agreement and CBDT circulars. ITAT allowed appeal, relying on Dhinagharan case, holding cash payment made at time of registration before sub-registrar does not violate Section 269SS. No penalty leviable u/s 271D.
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