Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
CESTAT upheld reclassification of the imported goods as 100% polyester knitted cut fabric under CTI 6001 92 00 ("others - of man-made fibres"), rejecting classification as long pile fabric under CTI 6001 10 90. The consequential duty demand based on such reclassification was sustained. In view of substantial mis-declaration of quantity and nature of goods, and presence of undeclared items, confiscation under sections 111(l) and 111(m) of the Customs Act was affirmed. Penalties on the importer-firm and its main partner under sections 112, 114A and 114AA were also upheld. The impugned order was confirmed in entirety and both appeals were dismissed.
CESTAT upheld reclassification of the imported goods as 100% polyester knitted cut fabric under CTI 6001 92 00 ("others - of man-made fibres"), rejecting classification as long pile fabric under CTI 6001 10 90. The consequential duty demand based on such reclassification was sustained. In view of substantial mis-declaration of quantity and nature of goods, and presence of undeclared items, confiscation under sections 111(l) and 111(m) of the Customs Act was affirmed. Penalties on the importer-firm and its main partner under sections 112, 114A and 114AA were also upheld. The impugned order was confirmed in entirety and both appeals were dismissed.
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