Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Appellate tribunal found the Commissioner (Appeals) erred by not...
Misdeclaration of quantity rejected where supplier evidence established counting errors, so reassessment, confiscation and redemption fine were set aside.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Appellate tribunal found the Commissioner (Appeals) erred by not examining the importer's explanation and supplier communication showing errors in quantification of imported memory components; therefore the upheld duty reassessment, confiscation and redemption fine were set aside. The tribunal also held that compulsory registration under the Electronics and IT Goods order applies to standalone UPS/inverters, not spare parts; consequently absolute confiscation and the small penalty imposed for one power supply were set aside and the two power supplies ordered released without penalty.
Appellate tribunal found the Commissioner (Appeals) erred by not examining the importer's explanation and supplier communication showing errors in quantification of imported memory components; therefore the upheld duty reassessment, confiscation and redemption fine were set aside. The tribunal also held that compulsory registration under the Electronics and IT Goods order applies to standalone UPS/inverters, not spare parts; consequently absolute confiscation and the small penalty imposed for one power supply were set aside and the two power supplies ordered released without penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
