Person chargeable with duty must be the importer at importation; subsequent purchasers cannot be held liable where beneficial owner rules did not appl...
Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Adoption of CERC tariff for internal bagasse transfer was rejected because treating bagasse as a by product with captive consumption, cost analysis using FRP and third party quotations produced a more realistic arm's length price; the Tribunal directed acceptance of the assessee's Rs.1,500/ton transfer price. The write off of loans/advances to a wholly owned subsidiary was held to be a business loss incurred for commercial expediency and allowable under the law as a deduction under business loss provisions. Harvesting and transport payments were found not to attract withholding under contract withholding rules, so no disallowance under withholding non compliance was warranted. Dispute on interest deduction timing requires AO verification under payment timing rules.
Adoption of CERC tariff for internal bagasse transfer was rejected because treating bagasse as a by product with captive consumption, cost analysis using FRP and third party quotations produced a more realistic arm's length price; the Tribunal directed acceptance of the assessee's Rs.1,500/ton transfer price. The write off of loans/advances to a wholly owned subsidiary was held to be a business loss incurred for commercial expediency and allowable under the law as a deduction under business loss provisions. Harvesting and transport payments were found not to attract withholding under contract withholding rules, so no disallowance under withholding non compliance was warranted. Dispute on interest deduction timing requires AO verification under payment timing rules.
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