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 held that non-return of seized documents and the laptop, including non-relied upon materials, violated principles of natural justice and impaired the appellant's right to an effective defence against rejection of declared transaction value and re-determination under the Customs Valuation Rules, 1988. The Tribunal emphasized that the Department cannot act contrary to its own circulars and that it is for the assessee to decide how to use non-relied documents to contest the case. Consequently, the impugned order was set aside and the matter was remanded to the jurisdictional adjudicating authority for de novo adjudication.
CESTAT held that non-return of seized documents and the laptop, including non-relied upon materials, violated principles of natural justice and impaired the appellant's right to an effective defence against rejection of declared transaction value and re-determination under the Customs Valuation Rules, 1988. The Tribunal emphasized that the Department cannot act contrary to its own circulars and that it is for the assessee to decide how to use non-relied documents to contest the case. Consequently, the impugned order was set aside and the matter was remanded to the jurisdictional adjudicating authority for de novo adjudication.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
