Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Appellant challenged inclusion of royalty and cost of advertisement incurred in India in assessable value of imported goods u/rs 10(1)(c) and 10(1)(e) of Customs Valuation Rules 2007 involving related party transaction. SC concurred with CESTAT's view that appellant's obligation under agreement to be responsible for sales, distribution, and expenditure in consultation with seller does not attract Rule 10(1)(e). Appeal dismissed.
Appellant challenged inclusion of royalty and cost of advertisement incurred in India in assessable value of imported goods u/rs 10(1)(c) and 10(1)(e) of Customs Valuation Rules 2007 involving related party transaction. SC concurred with CESTAT's view that appellant's obligation under agreement to be responsible for sales, distribution, and expenditure in consultation with seller does not attract Rule 10(1)(e). Appeal dismissed.
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TaxTMI 
TaxTMI 
of 4915 
