Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
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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