Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
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CESTAT ruled that separate shipping bills for goods exported in a single vessel must be assessed individually, not collectively, under the Customs Act. The tribunal emphasized that Fe content in iron ore fines must be determined on a wet basis, following SC precedent in Gangadhar Narsingdas. The Commissioner's order demanding differential duty based on combined assessment of multiple shipping bills and dry basis Fe content determination was overturned. The tribunal clarified that neither DRI officers nor Customs Commissioner has statutory authority to assess multiple shipping bills together, even when goods are loaded on the same vessel or covered under a single Bill of Lading. The appeal was allowed, setting aside the Commissioner's order dated 30.11.2022.
CESTAT ruled that separate shipping bills for goods exported in a single vessel must be assessed individually, not collectively, under the Customs Act. The tribunal emphasized that Fe content in iron ore fines must be determined on a wet basis, following SC precedent in Gangadhar Narsingdas. The Commissioner's order demanding differential duty based on combined assessment of multiple shipping bills and dry basis Fe content determination was overturned. The tribunal clarified that neither DRI officers nor Customs Commissioner has statutory authority to assess multiple shipping bills together, even when goods are loaded on the same vessel or covered under a single Bill of Lading. The appeal was allowed, setting aside the Commissioner's order dated 30.11.2022.
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