Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The ITAT adjudicated a tax dispute concerning interest levy under Section 234B, addressing the rectification order passed under Section 154. The tribunal found no sustainable grounds for interest imposition, relying on Supreme Court precedent in Mitsubishi Corporation. The court determined that the Assessing Officer's order lacked merit, as favorable High Court decisions precluded a "mistake apparent from record" under Section 154. Consequently, the tribunal dismissed the revenue's appeal, upholding the principle that interest cannot be levied when established judicial interpretations contradict the original assessment.
The ITAT adjudicated a tax dispute concerning interest levy under Section 234B, addressing the rectification order passed under Section 154. The tribunal found no sustainable grounds for interest imposition, relying on Supreme Court precedent in Mitsubishi Corporation. The court determined that the Assessing Officer's order lacked merit, as favorable High Court decisions precluded a "mistake apparent from record" under Section 154. Consequently, the tribunal dismissed the revenue's appeal, upholding the principle that interest cannot be levied when established judicial interpretations contradict the original assessment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
