Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
Acquiescence, homebuyer protection and clean-slate resolution principles prevent landowners from disrupting an integrated project through late termina...
Adjudication of a customs duty dispute involving the import of cars and the determination of the 'transaction value' u/s 14 of the Customs Act, 1962. The key points are: The appellate tribunal found discrepancies and lack of evidence regarding the supplementary invoices raised by the supplier, Bentley Motors Ltd., on the importer, Exclusive Motors Pvt. Ltd. The credibility of these invoices, purportedly adjusting freight and insurance costs, was questioned due to inconsistencies in record-keeping, unavailability of invoices for certain shipments, and lack of proof of payment through banking or informal channels. The tribunal also questioned the reliance on export declarations filed with HMRC (UK) to treat the contract as FOB terms, as these were mere statistical reports without legal consequences. The contract terms between the parties were found to be CIP/DAP, placing the risk liability on the supplier until import into India. Altering the terms to FOB would require evidence of risk liability transfer, which was lacking. The tribunal held that the customs authorities failed to discharge the burden of establishing that freight and insurance were excluded or unascertainable, as required under the Customs Valuation Rules, 2007. Consequently, the enhancement of the declared price by 21.125% to arrive at the 'transaction value' was foun.
Adjudication of a customs duty dispute involving the import of cars and the determination of the 'transaction value' u/s 14 of the Customs Act, 1962. The key points are: The appellate tribunal found discrepancies and lack of evidence regarding the supplementary invoices raised by the supplier, Bentley Motors Ltd., on the importer, Exclusive Motors Pvt. Ltd. The credibility of these invoices, purportedly adjusting freight and insurance costs, was questioned due to inconsistencies in record-keeping, unavailability of invoices for certain shipments, and lack of proof of payment through banking or informal channels. The tribunal also questioned the reliance on export declarations filed with HMRC (UK) to treat the contract as FOB terms, as these were mere statistical reports without legal consequences. The contract terms between the parties were found to be CIP/DAP, placing the risk liability on the supplier until import into India. Altering the terms to FOB would require evidence of risk liability transfer, which was lacking. The tribunal held that the customs authorities failed to discharge the burden of establishing that freight and insurance were excluded or unascertainable, as required under the Customs Valuation Rules, 2007. Consequently, the enhancement of the declared price by 21.125% to arrive at the 'transaction value' was foun.
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