Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Classification of imported drawing boards focused on whether they fall under slates and boards for writing or drawing or under toys; because the goods are reusable writing/drawing surfaces and HSN explanatory notes expressly include boards and slates irrespective of base material, they are more appropriately classifiable under heading covering slates and boards, and thus the goods are classed accordingly. The tribunal held that classification must proceed under General Rules for interpretation beginning with specific tariff items (GIR-1) with detailed comparative analysis of subheadings, and that arbitrary invocation of broader grouping rules (GIR-4) was inappropriate, resulting in the impugned classification being set aside and appeal allowed.
Classification of imported drawing boards focused on whether they fall under slates and boards for writing or drawing or under toys; because the goods are reusable writing/drawing surfaces and HSN explanatory notes expressly include boards and slates irrespective of base material, they are more appropriately classifiable under heading covering slates and boards, and thus the goods are classed accordingly. The tribunal held that classification must proceed under General Rules for interpretation beginning with specific tariff items (GIR-1) with detailed comparative analysis of subheadings, and that arbitrary invocation of broader grouping rules (GIR-4) was inappropriate, resulting in the impugned classification being set aside and appeal allowed.
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