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...
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The HC directed the respondents to conclude the pending investigation regarding the seized imported tyres, which were claimed to be exempt from BIS clearance as they were intended for mining use. The court held that prolonged seizure solely on the basis of ongoing investigation was unjustified, especially as over eight months had elapsed and relevant reports were available. The petitioner was not liable for any wrongful use of the tyres by third parties. The respondents must issue any show cause notice within two weeks of concluding the investigation or reinvestigation. Should the goods not be released post-investigation or show cause, the petitioner may seek provisional release subject to undertaking payment of the highest duty and penalty rates and restricting use to off-road purposes. The petition was disposed of with directions to comply with the Deputy Commissioner of Customs' orders.
The HC directed the respondents to conclude the pending investigation regarding the seized imported tyres, which were claimed to be exempt from BIS clearance as they were intended for mining use. The court held that prolonged seizure solely on the basis of ongoing investigation was unjustified, especially as over eight months had elapsed and relevant reports were available. The petitioner was not liable for any wrongful use of the tyres by third parties. The respondents must issue any show cause notice within two weeks of concluding the investigation or reinvestigation. Should the goods not be released post-investigation or show cause, the petitioner may seek provisional release subject to undertaking payment of the highest duty and penalty rates and restricting use to off-road purposes. The petition was disposed of with directions to comply with the Deputy Commissioner of Customs' orders.
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