Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
CESTAT allowed the appeal and set aside the impugned order, holding that the declared transaction value of the imported second-hand machinery must be accepted for customs assessment. The Tribunal found no evidence of related-party influence, impropriety or undisclosed payments affecting transaction value under Section 14, Customs Act, 1962, and no proviso grounds in Rule 3(2), CVR 2007 to reject the invoice. The load-port Chartered Engineer's certificate was held reliable; the local CE report was deficient for failing to identify which valuation factors were applied. Absent justifiable basis to discard the load-port opinion, there was no misdeclaration and the reassessment/enhancement was unwarranted. Appeal allowed.
CESTAT allowed the appeal and set aside the impugned order, holding that the declared transaction value of the imported second-hand machinery must be accepted for customs assessment. The Tribunal found no evidence of related-party influence, impropriety or undisclosed payments affecting transaction value under Section 14, Customs Act, 1962, and no proviso grounds in Rule 3(2), CVR 2007 to reject the invoice. The load-port Chartered Engineer's certificate was held reliable; the local CE report was deficient for failing to identify which valuation factors were applied. Absent justifiable basis to discard the load-port opinion, there was no misdeclaration and the reassessment/enhancement was unwarranted. Appeal allowed.
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