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...
CESTAT ruled that imported goods declared "NOT FOR RETAIL SALE" and sold to industrial consumers, whether directly or through distributors, are exempt from MRP/RSP-based assessment under Section 4A of Central Excise Act. The Tribunal found no evidence contradicting appellant's declaration that goods were meant for industrial consumers, making extended period invocation and penalties unsustainable. While the differential additional duty (CVD) demand based on MRP/RSP assessment was rejected, the matter regarding Special Additional Duty (SAD) was remanded to adjudicating authority for further examination due to unclear records about SAD payment at import and subsequent compliance with Notification 102/2007. The appeal was partially allowed through remand.
CESTAT ruled that imported goods declared "NOT FOR RETAIL SALE" and sold to industrial consumers, whether directly or through distributors, are exempt from MRP/RSP-based assessment under Section 4A of Central Excise Act. The Tribunal found no evidence contradicting appellant's declaration that goods were meant for industrial consumers, making extended period invocation and penalties unsustainable. While the differential additional duty (CVD) demand based on MRP/RSP assessment was rejected, the matter regarding Special Additional Duty (SAD) was remanded to adjudicating authority for further examination due to unclear records about SAD payment at import and subsequent compliance with Notification 102/2007. The appeal was partially allowed through remand.
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