Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The CESTAT held that under Section 14 of the Customs Act and the Valuation Rules, if the proper officer rejects the transaction value and re-determines the value, the re-determined value shall prevail; otherwise, the transaction value stands. An exporter is not liable to confiscation under Section 113(i) if the declared transaction value in the shipping bill matches the actual transaction value, even if later re-determined by the officer. Drawback is payable as a percentage of the FOB value, not the market value, provided the drawback amount does not exceed the market value as per Section 76(1)(b). Confiscation under Section 113(i), redemption fine under Section 125, and penalty under Section 114A imposed on the exporter were found unsustainable. The impugned order was set aside and the appeal allowed.
The CESTAT held that under Section 14 of the Customs Act and the Valuation Rules, if the proper officer rejects the transaction value and re-determines the value, the re-determined value shall prevail; otherwise, the transaction value stands. An exporter is not liable to confiscation under Section 113(i) if the declared transaction value in the shipping bill matches the actual transaction value, even if later re-determined by the officer. Drawback is payable as a percentage of the FOB value, not the market value, provided the drawback amount does not exceed the market value as per Section 76(1)(b). Confiscation under Section 113(i), redemption fine under Section 125, and penalty under Section 114A imposed on the exporter were found unsustainable. The impugned order was set aside and the appeal allowed.
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