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...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Page of 4796
Press 'Enter' after typing page number.
601 to 620 of 95916 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CESTAT held that the contract manufacturers (CMs) were not...
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(a), s.114AA
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
The CESTAT held that the contract manufacturers (CMs) were not the buyers of the imported parts and components; X Corp was the beneficial owner and therefore chargeable with differential customs duty. Royalties/license fees were held addable to transaction value under Rule 10(1)(c) and demand for duty could be made from the beneficial owner; extended limitation was invoked for willful suppression. Interest on delayed payment was confirmed. The goods were liable to confiscation under s.111(m). Penalty under s.114A was sustained against X Corp (precluding a concurrent s.112 levy); CMs were liable under s.112(a) and s.114AA. No penalties were imposed on the named executive. Differential duty with interest was confirmed and the matter was remanded to the OA to redetermine penalties. Appeal disposed.
The CESTAT held that the contract manufacturers (CMs) were not the buyers of the imported parts and components; X Corp was the beneficial owner and therefore chargeable with differential customs duty. Royalties/license fees were held addable to transaction value under Rule 10(1)(c) and demand for duty could be made from the beneficial owner; extended limitation was invoked for willful suppression. Interest on delayed payment was confirmed. The goods were liable to confiscation under s.111(m). Penalty under s.114A was sustained against X Corp (precluding a concurrent s.112 levy); CMs were liable under s.112(a) and s.114AA. No penalties were imposed on the named executive. Differential duty with interest was confirmed and the matter was remanded to the OA to redetermine penalties. Appeal disposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
