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 Tribunal held that the assessee's cash deposits during the demonetization period were from sale proceeds and collections from sundry debtors/trade debtors. The assessee maintained proper books of accounts subjected to tax audit, and the sales were reflected and offered to tax. Adding the same again would amount to impermissible double taxation. The assessee discharged the burden of proving the source of the cash deposited, and the authorities failed to rebut it. The Tribunal found no prohibition on dealing with Specified Bank Notes until December 31, 2016, under the Specified Bank Notes (Cessation of Liabilities) Act, 2017. Consequently, the assessee's appeal was allowed.
The Tribunal held that the assessee's cash deposits during the demonetization period were from sale proceeds and collections from sundry debtors/trade debtors. The assessee maintained proper books of accounts subjected to tax audit, and the sales were reflected and offered to tax. Adding the same again would amount to impermissible double taxation. The assessee discharged the burden of proving the source of the cash deposited, and the authorities failed to rebut it. The Tribunal found no prohibition on dealing with Specified Bank Notes until December 31, 2016, under the Specified Bank Notes (Cessation of Liabilities) Act, 2017. Consequently, the assessee's appeal was allowed.
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