Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Where Bills of Entry were assessed provisionally under s.18 of the Customs Act, the assessing authority was required to consider, at finalisation, the importer's claim for NIL duty at the preferential rate under the India-UAE CEPA notification, even if the benefit was not claimed at filing or at out-of-charge and even if the country-of-origin certificate was issued retrospectively, provided the notification conditions were otherwise satisfied. Treating the matter as governed by s.17 and refusing to apply precedent on provisional assessment was held erroneous. The finalisation order was set aside and the matter remanded to reconsider eligibility in light of the later CBIC Instruction No. 21/2024-Customs and the tribunal's observations - CESTAT
Where Bills of Entry were assessed provisionally under s.18 of the Customs Act, the assessing authority was required to consider, at finalisation, the importer's claim for NIL duty at the preferential rate under the India-UAE CEPA notification, even if the benefit was not claimed at filing or at out-of-charge and even if the country-of-origin certificate was issued retrospectively, provided the notification conditions were otherwise satisfied. Treating the matter as governed by s.17 and refusing to apply precedent on provisional assessment was held erroneous. The finalisation order was set aside and the matter remanded to reconsider eligibility in light of the later CBIC Instruction No. 21/2024-Customs and the tribunal's observations - CESTAT
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