Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Authorization requirements for customs brokers and benami shipping bills: tribunal upholds licence revocation and penalties after COVID time limit fou...
Eligibility for notification exemption on imported fertilizers challenged; penalty, interest and confiscation set aside after voluntary payment and no...
Transaction value declared for imports from a related foreign principal was held to represent true assessable value because the supervisory valuation bench had concluded the relationship did not influence price; the assessing officers rejection based on later observations and selected contemporaneous third-party prices was unjustified. The tribunal found the SVB order valid for the relevant consignments, disapproved adoption of third-party contemporaneous prices where buyers and quantities differed, and accepted that price differences fell within permissible resale margins and overheads. Consequentially, the impugned re-determination of value was set aside and the appeal allowed.
Transaction value declared for imports from a related foreign principal was held to represent true assessable value because the supervisory valuation bench had concluded the relationship did not influence price; the assessing officers rejection based on later observations and selected contemporaneous third-party prices was unjustified. The tribunal found the SVB order valid for the relevant consignments, disapproved adoption of third-party contemporaneous prices where buyers and quantities differed, and accepted that price differences fell within permissible resale margins and overheads. Consequentially, the impugned re-determination of value was set aside and the appeal allowed.
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