Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
The dominant issue was the statutory limitation for passing the final assessment order under section 144C(13), i.e., whether the time limit is governed by section 153(1) read with section 153(4) or by section 144C(13) (one month from the end of the month of DRP directions). Relying on a coordinate bench ruling on an identical question, the Tribunal held that limitation must be computed under section 153(1) read with section 153(4), making the last permissible date 30.09.2023. Since the final assessment order was passed on 29.07.2024, it was held time-barred and was quashed. - ITAT
The dominant issue was the statutory limitation for passing the final assessment order under section 144C(13), i.e., whether the time limit is governed by section 153(1) read with section 153(4) or by section 144C(13) (one month from the end of the month of DRP directions). Relying on a coordinate bench ruling on an identical question, the Tribunal held that limitation must be computed under section 153(1) read with section 153(4), making the last permissible date 30.09.2023. Since the final assessment order was passed on 29.07.2024, it was held time-barred and was quashed. - ITAT
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