Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
CESTAT allowed the appeal and set aside the impugned adjudicating order, holding that the Certificate of Origin could not be summarily rejected without applying the procedural safeguards under the Rules of Origin and the ancillary administrative provisions governing issuance and verification. The Tribunal found the certifying authority had carried out the requisite pre-export examination and certification under the issuing rules, there was no finding of fraud or forgery, and the appellate authority's refusal rested on a misconstruction of packaging particulars rather than any substantive defect. Consequently the denial of concessional duty was unsustainable and the appellant's claim to benefit was reinstated.
CESTAT allowed the appeal and set aside the impugned adjudicating order, holding that the Certificate of Origin could not be summarily rejected without applying the procedural safeguards under the Rules of Origin and the ancillary administrative provisions governing issuance and verification. The Tribunal found the certifying authority had carried out the requisite pre-export examination and certification under the issuing rules, there was no finding of fraud or forgery, and the appellate authority's refusal rested on a misconstruction of packaging particulars rather than any substantive defect. Consequently the denial of concessional duty was unsustainable and the appellant's claim to benefit was reinstated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
