Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Misclassification between copra and dry coconut: customs recovery and re-valuation quashed for lack of prior licensing-authority invalidation, appeals...
Estimation of profit element in non-genuine purchases: the Tribunal held that the CIT(A) mechanically followed an earlier ITAT direction limiting disallowance without independently verifying factual parity between years or the effect of later binding precedents, and that subsequent authority criticises fixed-rate profit estimates where the assessee fails to prove genuineness. The impugned restriction was set aside and the matter remitted to the CIT(A) to re-adjudicate after affording the assessee a hearing, to apply relevant binding precedents and record a reasoned finding. The Revenue's appeal was allowed for statistical purposes and remand ordered.
Estimation of profit element in non-genuine purchases: the Tribunal held that the CIT(A) mechanically followed an earlier ITAT direction limiting disallowance without independently verifying factual parity between years or the effect of later binding precedents, and that subsequent authority criticises fixed-rate profit estimates where the assessee fails to prove genuineness. The impugned restriction was set aside and the matter remitted to the CIT(A) to re-adjudicate after affording the assessee a hearing, to apply relevant binding precedents and record a reasoned finding. The Revenue's appeal was allowed for statistical purposes and remand ordered.
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