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...
The Income Tax Settlement Commission (ITSC) has wide powers under Chapter XIX-A to examine and evaluate all aspects of an application for settlement, including calling for reports, directing further inquiries, and holistically examining matters beyond the disclosures made by the applicant. The essential ingredients for granting immunity u/s 245H are cooperation by the applicant in computing total income and full and true disclosure of income, which are the same prerequisites for computation u/s 245D(4). Once the ITSC finds these conditions satisfied, its order granting immunity cannot be questioned separately, as both provisions are premised on identical considerations. The ITSC's order has finality u/s 245I, and can only be reviewed on grounds provided in Chapter XIX-A. Interfering with the grant of immunity would amount to questioning the acceptance of the application itself, which cannot be done if the statutory conditions were found satisfied. The principle of severability cannot be invoked as the considerations for computation and immunity are not distinct.
The Income Tax Settlement Commission (ITSC) has wide powers under Chapter XIX-A to examine and evaluate all aspects of an application for settlement, including calling for reports, directing further inquiries, and holistically examining matters beyond the disclosures made by the applicant. The essential ingredients for granting immunity u/s 245H are cooperation by the applicant in computing total income and full and true disclosure of income, which are the same prerequisites for computation u/s 245D(4). Once the ITSC finds these conditions satisfied, its order granting immunity cannot be questioned separately, as both provisions are premised on identical considerations. The ITSC's order has finality u/s 245I, and can only be reviewed on grounds provided in Chapter XIX-A. Interfering with the grant of immunity would amount to questioning the acceptance of the application itself, which cannot be done if the statutory conditions were found satisfied. The principle of severability cannot be invoked as the considerations for computation and immunity are not distinct.
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