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...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Addition claimed as cessation of liability for alleged non existent sundry creditors was examined where the AO had accepted increased purchases, sales and consequent creditor balances and prior years' assessments similarly accepted such creditors. The tribunal found sample based non verification of 29.24% of creditors insufficient to displace accepted trading results, and relied on higher court precedents to hold that no addition under cessation of liability principles was warranted. The AO's addition was deleted and the tax effect reversed in favour of the assessee.
Addition claimed as cessation of liability for alleged non existent sundry creditors was examined where the AO had accepted increased purchases, sales and consequent creditor balances and prior years' assessments similarly accepted such creditors. The tribunal found sample based non verification of 29.24% of creditors insufficient to displace accepted trading results, and relied on higher court precedents to hold that no addition under cessation of liability principles was warranted. The AO's addition was deleted and the tax effect reversed in favour of the assessee.
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