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 under Section 56(2)(vii) was challenged where two land parcels acquired below Stamp Duty Value were treated as stock-in-trade; lower authorities sustained the addition due to the assessee's failure to produce books and purchase-sale records, creating an evidentiary deficit. The tribunal, without deciding the asset classification on merits, set aside the order and remanded the matter to the AO for de novo adjudication, directing examination of books and financial-statement treatment, verification of the applicability of CBDT Circular No. 1/2011 and relevant precedents on the definition of "property", and affording the assessee a reasonable, effective opportunity to be heard.
Addition under Section 56(2)(vii) was challenged where two land parcels acquired below Stamp Duty Value were treated as stock-in-trade; lower authorities sustained the addition due to the assessee's failure to produce books and purchase-sale records, creating an evidentiary deficit. The tribunal, without deciding the asset classification on merits, set aside the order and remanded the matter to the AO for de novo adjudication, directing examination of books and financial-statement treatment, verification of the applicability of CBDT Circular No. 1/2011 and relevant precedents on the definition of "property", and affording the assessee a reasonable, effective opportunity to be heard.
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