Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
For computing LTCG under the deeming fiction of s.50C, the relevant SRO value is the value prevailing on the date of the operative "agreement to sell"/settlement document, provided the statutory preconditions are satisfied; accordingly, SRO value as on 23.11.2013 was directed for the land covered by the court-recorded compromise, and SRO value as on 12.08.2013 was directed for the land covered by the MOUs. For the balance land not traceable to the compromise/MOUs, SRO value as on the dates of the last registered sale deeds in November 2015 was directed. The appellate order was set aside and recomputation was ordered on these lines - ITAT
For computing LTCG under the deeming fiction of s.50C, the relevant SRO value is the value prevailing on the date of the operative "agreement to sell"/settlement document, provided the statutory preconditions are satisfied; accordingly, SRO value as on 23.11.2013 was directed for the land covered by the court-recorded compromise, and SRO value as on 12.08.2013 was directed for the land covered by the MOUs. For the balance land not traceable to the compromise/MOUs, SRO value as on the dates of the last registered sale deeds in November 2015 was directed. The appellate order was set aside and recomputation was ordered on these lines - ITAT
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