Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
In determining whether the importer's advertisement and sales promotion expenditure could be added to assessable value under Rule 10(1)(e) of the 2007 Customs Valuation Rules, it was held that statements recorded under s.108 could not be relied upon because the mandatory procedure under s.138B was not followed, vitiating their evidentiary use. On merits, the marketing-support clause and first-year discount did not establish that any discount or promotional spend was a condition of sale or an amount paid/payable to the seller; the expenses were incurred on the importer's own account and were therefore not includible in assessable value. The demand of differential duty with interest and penalty was set aside and the appeal was allowed with consequential relief. - CESTAT
In determining whether the importer's advertisement and sales promotion expenditure could be added to assessable value under Rule 10(1)(e) of the 2007 Customs Valuation Rules, it was held that statements recorded under s.108 could not be relied upon because the mandatory procedure under s.138B was not followed, vitiating their evidentiary use. On merits, the marketing-support clause and first-year discount did not establish that any discount or promotional spend was a condition of sale or an amount paid/payable to the seller; the expenses were incurred on the importer's own account and were therefore not includible in assessable value. The demand of differential duty with interest and penalty was set aside and the appeal was allowed with consequential relief. - CESTAT
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