Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Classification of the impugned goods turned on whether they were cosmetics/toiletry preparations or Ayurvedic medicines; the Tribunal held that documentary proof of manufacture, licences, GMP certificate and Directorate opinion supported Ayurvedic classification and that the Revenue bore the burden to prove cosmetic character, which it failed to do due to absence of test reports or other evidence. The Tribunal further found non-disclosure of material evidence in the show cause proceedings amounted to mala fides, rendering adjudications confirming duty, interest, penalties and confiscation unsustainable; appeals were allowed and demands set aside.
Classification of the impugned goods turned on whether they were cosmetics/toiletry preparations or Ayurvedic medicines; the Tribunal held that documentary proof of manufacture, licences, GMP certificate and Directorate opinion supported Ayurvedic classification and that the Revenue bore the burden to prove cosmetic character, which it failed to do due to absence of test reports or other evidence. The Tribunal further found non-disclosure of material evidence in the show cause proceedings amounted to mala fides, rendering adjudications confirming duty, interest, penalties and confiscation unsustainable; appeals were allowed and demands set aside.
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