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...
Differential duty demand on imported gold bars under a "consignment sale" arrangement was examined on whether post-import remittances to the overseas supplier reflected a "sale" after import affecting transaction value under s.14. The Tribunal held valuation must follow CVR, 2007 sequentially; where declared value is based on the contemporaneous LBMA/LME-linked price, it constitutes the value of similar goods under Rule 5 and satisfies s.14, and Revenue having not disputed the benchmark could not revalue goods by adding post-import charges. Consequently, the declared bill of entry value was upheld, the impugned order was set aside, and the appeal was allowed with consequential relief; similar cases may be considered consistently as per law. - CESTAT
Differential duty demand on imported gold bars under a "consignment sale" arrangement was examined on whether post-import remittances to the overseas supplier reflected a "sale" after import affecting transaction value under s.14. The Tribunal held valuation must follow CVR, 2007 sequentially; where declared value is based on the contemporaneous LBMA/LME-linked price, it constitutes the value of similar goods under Rule 5 and satisfies s.14, and Revenue having not disputed the benchmark could not revalue goods by adding post-import charges. Consequently, the declared bill of entry value was upheld, the impugned order was set aside, and the appeal was allowed with consequential relief; similar cases may be considered consistently as per law. - CESTAT
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