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 proper officer of customs lacked competence to revalue imported pre-packaged goods by invoking excise concepts of section 4A in a section 17 assessment or to substitute the transaction price fixed for BCD with an RSP-based value post-importation. The Tribunal held the only enforceable price at import is the declared transaction price for BCD and the officer's limited power is to ensure RSP marking accords with the declaration up to clearance under section 47; retrospective revision under section 28 to levy additional/customs duty on alleged higher RSP was not established, so revenue's reassessment was quashed.
CESTAT allowed the appeal and set aside the impugned order, holding that the proper officer of customs lacked competence to revalue imported pre-packaged goods by invoking excise concepts of section 4A in a section 17 assessment or to substitute the transaction price fixed for BCD with an RSP-based value post-importation. The Tribunal held the only enforceable price at import is the declared transaction price for BCD and the officer's limited power is to ensure RSP marking accords with the declaration up to clearance under section 47; retrospective revision under section 28 to levy additional/customs duty on alleged higher RSP was not established, so revenue's reassessment was quashed.
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