Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
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The AAR held that provisionally preserved areca nut (whole) and provisionally preserved areca nut (split) are to be classified under CTH 2008 19 20 'Other roasted nuts & seeds' of Chapter 20, and not under Chapter 8 covering dried fruits and nuts. As per HSN Explanatory Notes, heading 2008 covers nuts dry-roasted, oil-roasted or fat-roasted, whether or not containing additives. The process of roasting is not covered under Chapter Note 3 to Chapter 8. Following the Supreme Court's judgment in Commissioner of Customs & Central Excise v. Phil Corporation Ltd., the AAR concluded that roasted areca nuts are classifiable under heading 2008.
The AAR held that provisionally preserved areca nut (whole) and provisionally preserved areca nut (split) are to be classified under CTH 2008 19 20 'Other roasted nuts & seeds' of Chapter 20, and not under Chapter 8 covering dried fruits and nuts. As per HSN Explanatory Notes, heading 2008 covers nuts dry-roasted, oil-roasted or fat-roasted, whether or not containing additives. The process of roasting is not covered under Chapter Note 3 to Chapter 8. Following the Supreme Court's judgment in Commissioner of Customs & Central Excise v. Phil Corporation Ltd., the AAR concluded that roasted areca nuts are classifiable under heading 2008.
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