Reassessment under s.148A held valid; s.69 additions totaling Rs.7,00,000 deleted after acceptable contemporaneous explanations for property investmen...
Adjudication set aside; Rule 9 valuation based on internet engineer report quashed for Rule 3(4) non-compliance; Section 138B cross-examination requir...
The HC, while noting that the imported goods (viscose knitted fabric) are subject to pending adjudication for alleged misclassification and undervaluation, modified the impugned provisional release order. The court refused to endorse onerous prerequisites such as unconditional release without fiscal safeguards, but directed that the petitioner must remit the full duty as declared in the import documents and additionally pay 50% of the differential duty computed by the Department on its reassessed value; the balance differential duty remains subject to outcome of the adjudication. All other conditions of provisional release were accordingly read down and the writ petition was disposed of.
The HC, while noting that the imported goods (viscose knitted fabric) are subject to pending adjudication for alleged misclassification and undervaluation, modified the impugned provisional release order. The court refused to endorse onerous prerequisites such as unconditional release without fiscal safeguards, but directed that the petitioner must remit the full duty as declared in the import documents and additionally pay 50% of the differential duty computed by the Department on its reassessed value; the balance differential duty remains subject to outcome of the adjudication. All other conditions of provisional release were accordingly read down and the writ petition was disposed of.
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