Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
ITAT held that initiation of penalty proceedings u/s 271DA for alleged contravention of s.269ST requires the assessing authority's recorded satisfaction to appear in the assessment order itself while analysing transactions, failing which limitation for initiation of penalty arises. The SC precedent was applied to require that even where an assessment is set aside and fresh assessment is framed de novo, the fresh assessment order must record the requisite satisfaction before invoking penalty u/s 271DA. Treating penalties u/s 271D and 271DA as pari materia in furtherance of cashless economy objectives, the Tribunal set aside penalty and decided the matter in favour of the assessee.
ITAT held that initiation of penalty proceedings u/s 271DA for alleged contravention of s.269ST requires the assessing authority's recorded satisfaction to appear in the assessment order itself while analysing transactions, failing which limitation for initiation of penalty arises. The SC precedent was applied to require that even where an assessment is set aside and fresh assessment is framed de novo, the fresh assessment order must record the requisite satisfaction before invoking penalty u/s 271DA. Treating penalties u/s 271D and 271DA as pari materia in furtherance of cashless economy objectives, the Tribunal set aside penalty and decided the matter in favour of the assessee.
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