Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT ruled in favor of appellant regarding import of contaminated Shell on Shrimps under Notification 32/1997-Cus. Though goods were found unsuitable for export due to Nitrofuran Metabolite AHD contamination, appellant had demonstrated compliance with Rule 8 of Customs Rules by subjecting goods to job work with clear export intent. Following precedent from BPL Display Devices Ltd case, tribunal held that customs duty cannot be demanded when goods become unfit due to unforeseen circumstances, provided importer had no intention to divert goods for other purposes. Appellant's request for goods destruction rather than disposal evidenced genuine export intent. Appeal allowed with no duty liability imposed.
CESTAT ruled in favor of appellant regarding import of contaminated Shell on Shrimps under Notification 32/1997-Cus. Though goods were found unsuitable for export due to Nitrofuran Metabolite AHD contamination, appellant had demonstrated compliance with Rule 8 of Customs Rules by subjecting goods to job work with clear export intent. Following precedent from BPL Display Devices Ltd case, tribunal held that customs duty cannot be demanded when goods become unfit due to unforeseen circumstances, provided importer had no intention to divert goods for other purposes. Appellant's request for goods destruction rather than disposal evidenced genuine export intent. Appeal allowed with no duty liability imposed.
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