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, set aside the impugned order and held that the appellant imported a new automatic car entitled to the concessional duty under the Notification. The Tribunal found the inspection report established the vehicle was new and that prior UK registration for transit/export formalities did not defeat new-car status. The adjudicating authority's rejection of declared value under Rule 12 (and re-determination under Rule 3) of the Valuation Rules 2007 was unwarranted; therefore no additional customs duty was exigible. Consequential measures - confiscation and penalties under s.112(a) or s.114AA of the Customs Act - were held unsustainable. Appeal allowed.
CESTAT allowed the appeal, set aside the impugned order and held that the appellant imported a new automatic car entitled to the concessional duty under the Notification. The Tribunal found the inspection report established the vehicle was new and that prior UK registration for transit/export formalities did not defeat new-car status. The adjudicating authority's rejection of declared value under Rule 12 (and re-determination under Rule 3) of the Valuation Rules 2007 was unwarranted; therefore no additional customs duty was exigible. Consequential measures - confiscation and penalties under s.112(a) or s.114AA of the Customs Act - were held unsustainable. Appeal allowed.
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