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 allowed the appeal, finding no substantive evidence of misdeclaration. The tribunal critically examined the test reports, which did not conclusively prove the goods were not RBD Palmolein mixture. The Commissioner's refusal to permit re-testing and cross-examination of experts, coupled with a five-year delay in issuing the show cause notice, undermined the department's case. The tribunal held that the allegations of mis-declaration were unsubstantiated, thereby setting aside the duty demand, interest, and penalties imposed on the importer.
CESTAT allowed the appeal, finding no substantive evidence of misdeclaration. The tribunal critically examined the test reports, which did not conclusively prove the goods were not RBD Palmolein mixture. The Commissioner's refusal to permit re-testing and cross-examination of experts, coupled with a five-year delay in issuing the show cause notice, undermined the department's case. The tribunal held that the allegations of mis-declaration were unsubstantiated, thereby setting aside the duty demand, interest, and penalties imposed on the importer.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
