Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
Benami property exclusion from the insolvency estate: Benami Act proceedings preclude IBC tribunals from reopening attachments or treating such assets...
Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable.
Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
