Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
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The High Court allowed the petition and directed that the certificate issued by the designated authority under the Direct Tax Vivad Se Vishwas Act, 2020 be confined to the declaration made by the assessee. The Court held that the assessee can confine the settlement of disputes to the issue regarding disallowance of loss claimed in respect of trading in derivatives, which was the subject matter of its appeal disposed of by the ITAT. The revenue's consolidated appeal against the ITAT order would not detract from the fact that the appeals pertained to separate issues not interlinked. The respondents were directed to take steps for issuing a modified certificate u/s 5(1) of the Act.
The High Court allowed the petition and directed that the certificate issued by the designated authority under the Direct Tax Vivad Se Vishwas Act, 2020 be confined to the declaration made by the assessee. The Court held that the assessee can confine the settlement of disputes to the issue regarding disallowance of loss claimed in respect of trading in derivatives, which was the subject matter of its appeal disposed of by the ITAT. The revenue's consolidated appeal against the ITAT order would not detract from the fact that the appeals pertained to separate issues not interlinked. The respondents were directed to take steps for issuing a modified certificate u/s 5(1) of the Act.
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