Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Appeal concerns undervaluation and transaction value in customs; tribunal addressed admissibility of third-party documents and statements and the burden of proof on revenue to establish under-valuation using contemporaneous imports, finding reliance on common documentary evidence. A partners acceptance of undervaluation and payment of differential duty, interest and reduced penalty under statute was treated as corroborative, and earlier tribunal precedent affirmed by the Supreme Court was applied to the present matters. Consequentially the impugned order was set aside and both appeals were allowed with attendant benefits where applicable.
Appeal concerns undervaluation and transaction value in customs; tribunal addressed admissibility of third-party documents and statements and the burden of proof on revenue to establish under-valuation using contemporaneous imports, finding reliance on common documentary evidence. A partners acceptance of undervaluation and payment of differential duty, interest and reduced penalty under statute was treated as corroborative, and earlier tribunal precedent affirmed by the Supreme Court was applied to the present matters. Consequentially the impugned order was set aside and both appeals were allowed with attendant benefits where applicable.
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