Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
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
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
