Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The article addresses the requirement that assumption of jurisdiction under section 153C requires a contemporaneous, written and year specific satisfaction by the Assessing Officer linking seized material to each assessment year; consolidated or blanket satisfaction spanning multiple years without year wise nexus is legally insufficient. Applying this principle, assessments founded on such undifferentiated satisfaction notes are unsustainable and liable to be quashed as void ab initio where no year specific incriminating material is shown to relate to the assessee for the years under consideration.
The article addresses the requirement that assumption of jurisdiction under section 153C requires a contemporaneous, written and year specific satisfaction by the Assessing Officer linking seized material to each assessment year; consolidated or blanket satisfaction spanning multiple years without year wise nexus is legally insufficient. Applying this principle, assessments founded on such undifferentiated satisfaction notes are unsustainable and liable to be quashed as void ab initio where no year specific incriminating material is shown to relate to the assessee for the years under consideration.
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