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...
Under authority of the Customs Act, the revenue board amended the existing customs notification to fix tariff values for specified goods, substituting three tables setting dollar-per-metric-tonne values for various edible oils (palm, palmolein, soybean), brass scrap and areca nut, and dollar unit values for specified gold and silver forms (including bars, coins and certain silver items), with specified exclusions and explanations. The amendment takes effect 15 November 2025.
Under authority of the Customs Act, the revenue board amended the existing customs notification to fix tariff values for specified goods, substituting three tables setting dollar-per-metric-tonne values for various edible oils (palm, palmolein, soybean), brass scrap and areca nut, and dollar unit values for specified gold and silver forms (including bars, coins and certain silver items), with specified exclusions and explanations. The amendment takes effect 15 November 2025.
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