Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
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HC allowed the petitioner's appeal, quashing the AO's reassessment order under Section 148A(d). The court found the order was passed without application of mind, highlighting internal contradictions where the AO first acknowledged the income tax return's filing, then subsequently claimed no return was submitted. The decision emphasized the petitioner's submission of bank statements documenting funds borrowed from his father for cryptocurrency purchase, which were undisputed. The reassessment order was deemed legally unsustainable and was set aside, providing relief to the taxpayer by invalidating the reopening of the assessment.
HC allowed the petitioner's appeal, quashing the AO's reassessment order under Section 148A(d). The court found the order was passed without application of mind, highlighting internal contradictions where the AO first acknowledged the income tax return's filing, then subsequently claimed no return was submitted. The decision emphasized the petitioner's submission of bank statements documenting funds borrowed from his father for cryptocurrency purchase, which were undisputed. The reassessment order was deemed legally unsustainable and was set aside, providing relief to the taxpayer by invalidating the reopening of the assessment.
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