Genuineness of investment evidence determines LTCG entitlement; non specific regulatory reports cannot displace transaction specific documentary proof...
Page of 4816
Press 'Enter' after typing page number.
5881 to 5900 of 96301 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Rejection of declared transaction value is warranted where a portion of consideration is paid outside banking channels, vitiating the invoice price and permitting valuation under the residual method by adding undeclared consideration; consequence: assessable value increased. Deliberate non-disclosure of consideration constitutes willful misstatement and suppression, justifying invocation of the extended limitation period and assessment of differential duty with statutory interest. Admissions and enforcement agency findings permit corroborative use of such material. Deliberate undervaluation attracts mandatory penalty for collusion or suppression, quantified to include interest, and mis-declaration exposing goods to confiscation with no redemption where goods are unavailable.
Rejection of declared transaction value is warranted where a portion of consideration is paid outside banking channels, vitiating the invoice price and permitting valuation under the residual method by adding undeclared consideration; consequence: assessable value increased. Deliberate non-disclosure of consideration constitutes willful misstatement and suppression, justifying invocation of the extended limitation period and assessment of differential duty with statutory interest. Admissions and enforcement agency findings permit corroborative use of such material. Deliberate undervaluation attracts mandatory penalty for collusion or suppression, quantified to include interest, and mis-declaration exposing goods to confiscation with no redemption where goods are unavailable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
