Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
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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