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...
ITAT set aside Pr.CIT's order under section 263, finding procedural irregularities in reassessment proceedings. The tribunal determined that Pr.CIT exceeded jurisdictional limits by: (1) considering documents not available during original examination, (2) introducing issues beyond the original reassessment scope under section 147, and (3) improperly evaluating additional tax-related matters not part of initial proceedings. The tribunal emphasized that revisional powers must be exercised strictly based on records existing at the time of original assessment. Consequently, the entire proceedings were deemed ultra vires, with the appellate order partially allowing the assessee's appeal and nullifying the CIT's interventions.
ITAT set aside Pr.CIT's order under section 263, finding procedural irregularities in reassessment proceedings. The tribunal determined that Pr.CIT exceeded jurisdictional limits by: (1) considering documents not available during original examination, (2) introducing issues beyond the original reassessment scope under section 147, and (3) improperly evaluating additional tax-related matters not part of initial proceedings. The tribunal emphasized that revisional powers must be exercised strictly based on records existing at the time of original assessment. Consequently, the entire proceedings were deemed ultra vires, with the appellate order partially allowing the assessee's appeal and nullifying the CIT's interventions.
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