Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
The HC allowed the petitions, quashing and setting aside the Designated Authority's rejection of the petitioner's Form-1 declaration under the DTVSV Scheme, 2024. The Court held that the petitioner, a declarant assessee, had a valid appeal pending before the CIT(Appeals) as on the specified date (22.07.2024) for AY 2014-15, notwithstanding non-condonation of delay, and thus fell within the statutory definition of "appellant." Relying on precedent and the Scheme's FAQs, the HC found the rejection unlawful and directed the Designated Authority to process the declaration under the Scheme in accordance with its terms. The petitions were allowed and disposed of.
The HC allowed the petitions, quashing and setting aside the Designated Authority's rejection of the petitioner's Form-1 declaration under the DTVSV Scheme, 2024. The Court held that the petitioner, a declarant assessee, had a valid appeal pending before the CIT(Appeals) as on the specified date (22.07.2024) for AY 2014-15, notwithstanding non-condonation of delay, and thus fell within the statutory definition of "appellant." Relying on precedent and the Scheme's FAQs, the HC found the rejection unlawful and directed the Designated Authority to process the declaration under the Scheme in accordance with its terms. The petitions were allowed and disposed of.
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