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...
The CESTAT allowed the appeal by remand, holding that reassessment paid under protest and subsequent refund claims preclude treating the liability as unprotested; the Department failed to demonstrate written agreement to reassessment by the importer. The Tribunal ruled that, absent contrary evidence, the party's asserted date of receipt of the speaking order governs computation of the appeal period under Section 17(5), and the Commissioner (Appeals) erred in holding the appeal time-barred. The matter is remitted to the Commissioner (Appeals) with a direction to accept the claimed date of receipt, entertain the statutory protest rights, and adjudicate the appeal on merits. The decision accords binding weight to later authoritative precedent.
The CESTAT allowed the appeal by remand, holding that reassessment paid under protest and subsequent refund claims preclude treating the liability as unprotested; the Department failed to demonstrate written agreement to reassessment by the importer. The Tribunal ruled that, absent contrary evidence, the party's asserted date of receipt of the speaking order governs computation of the appeal period under Section 17(5), and the Commissioner (Appeals) erred in holding the appeal time-barred. The matter is remitted to the Commissioner (Appeals) with a direction to accept the claimed date of receipt, entertain the statutory protest rights, and adjudicate the appeal on merits. The decision accords binding weight to later authoritative precedent.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
