Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Objective characteristics govern magnesium bis-glycinate chelate classification as an amino-acid coordination compound, not a food preparation or anti...
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CESTAT modified the customs assessment order involving undervaluation of imported networking equipment. The tribunal found the importer's initial declaration of USD 100 versus actual value of USD 64,496.42 was due to inter-office correspondence error, not intentional duty evasion. While confirming penalty under Section 112(ii), the tribunal set aside penalty under Section 114AA and reduced the redemption fine from Rs. 10,00,000 to Rs. 5,00,000, considering the importer's immediate disclosure and cooperative approach. The appeal was disposed of with partial relief to the appellant, balancing procedural compliance with substantive justice.
CESTAT modified the customs assessment order involving undervaluation of imported networking equipment. The tribunal found the importer's initial declaration of USD 100 versus actual value of USD 64,496.42 was due to inter-office correspondence error, not intentional duty evasion. While confirming penalty under Section 112(ii), the tribunal set aside penalty under Section 114AA and reduced the redemption fine from Rs. 10,00,000 to Rs. 5,00,000, considering the importer's immediate disclosure and cooperative approach. The appeal was disposed of with partial relief to the appellant, balancing procedural compliance with substantive justice.
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