Resale price method upheld for distribution; assessee's margins accepted and certain transfer-pricing adjustments deleted due to documented reimbursem...
The Appellate Tribunal (CESTAT) dismissed the Revenue's appeal, affirming that the Optical Interface Modules are classifiable under CTH 85177090 as accepted by departmental authorities, and that the Revenue is precluded from contesting that accepted position. The Tribunal directed the jurisdictional authorities to refund the customs duty paid by the Respondent, with interest at 12% per annum, payable from three months after the date of initial payment until the date of refund, excluding the initial three-month processing period from interest computation. The Tribunal ordered prompt disbursement in view of the prolonged financial hardship and increased fiscal burden caused by delay.
The Appellate Tribunal (CESTAT) dismissed the Revenue's appeal, affirming that the Optical Interface Modules are classifiable under CTH 85177090 as accepted by departmental authorities, and that the Revenue is precluded from contesting that accepted position. The Tribunal directed the jurisdictional authorities to refund the customs duty paid by the Respondent, with interest at 12% per annum, payable from three months after the date of initial payment until the date of refund, excluding the initial three-month processing period from interest computation. The Tribunal ordered prompt disbursement in view of the prolonged financial hardship and increased fiscal burden caused by delay.
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