Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome.
Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome.
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