Toy balloon tariff classification: functional heading prevails over residual rubber and festive article headings, supporting penalties for deliberate ...
Customs valuation using comparable contemporaneous imports can displace declared value, while missing speaking orders require pursuit before competent...
Foreign customs declarations and importer admissions established undervaluation, supporting sequential value redetermination, differential duty, and m...
Customs seizure safeguards prevent detention-based limitation avoidance and invalidate provisional release conditions for imported vehicles under an i...
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Challenge to assessment as violative of s.144B/CBDT instructions and for denial of opportunity failed because statutory notices were issued, the proposed disallowance was communicated, and no specific prejudice from refusal of evidence or arbitrary denial of adjournment was shown; hence the assessment was not void. Disallowance in principle of excess cane price over FRP could not be rejected merely on broad claims, as no cost-based justification or contemporaneous material was produced to show the entire differential was commercially driven; however, the impugned quantification did not follow the Tasgaon methodology and was not sustainable. For the year in question, deduction of the final cane price was allowable in full under s.36(1)(xvii) due to unrebutted State Government approval, rendering further profit-embedded segregation unnecessary; sustained disallowance was deleted and set-off of brought-forward depreciation was directed. - ITAT
Challenge to assessment as violative of s.144B/CBDT instructions and for denial of opportunity failed because statutory notices were issued, the proposed disallowance was communicated, and no specific prejudice from refusal of evidence or arbitrary denial of adjournment was shown; hence the assessment was not void. Disallowance in principle of excess cane price over FRP could not be rejected merely on broad claims, as no cost-based justification or contemporaneous material was produced to show the entire differential was commercially driven; however, the impugned quantification did not follow the Tasgaon methodology and was not sustainable. For the year in question, deduction of the final cane price was allowable in full under s.36(1)(xvii) due to unrebutted State Government approval, rendering further profit-embedded segregation unnecessary; sustained disallowance was deleted and set-off of brought-forward depreciation was directed. - ITAT
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