Tax authority's substitution of projected figures with actuals overturned; original acquisition valuation upheld; transfer pricing issues remitted for...
Beneficial owner held liable for differential customs duty; royalties added under Rule 10(1)(c); confiscation, penalties under s.111(m), s.114A, s.112...
The HC affirms that an appeal under s.249(4)(a) to the CIT(A) is statutorily conditional upon payment/deposit of admitted tax; the statutory requirement admits no judicially implied exception or waiver. In proceedings under the block assessment provision s.158BC, the Court holds the CIT(A) lacks jurisdiction to entertain appeals where the pre-condition of payment of admitted tax remains unsatisfied, even if the legality of the admitted return is contested. The Tribunal's conclusion that the appellant's CIT(A) appeal was not maintainable for non-payment of admitted tax is sustained. The appeal is dismissed and the substantial questions of law are answered against the appellant.
The HC affirms that an appeal under s.249(4)(a) to the CIT(A) is statutorily conditional upon payment/deposit of admitted tax; the statutory requirement admits no judicially implied exception or waiver. In proceedings under the block assessment provision s.158BC, the Court holds the CIT(A) lacks jurisdiction to entertain appeals where the pre-condition of payment of admitted tax remains unsatisfied, even if the legality of the admitted return is contested. The Tribunal's conclusion that the appellant's CIT(A) appeal was not maintainable for non-payment of admitted tax is sustained. The appeal is dismissed and the substantial questions of law are answered against the appellant.
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