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...
Deduction for indexed cost of improvement was allowed in part where documentary proof was incomplete: exercising evaluative discretion, the Tribunal permitted 80% of the improvement cost claimed to be adopted for computing the indexed cost of improvement and directed the assessing officer to recompute and grant the deduction accordingly, setting aside the contrary appellate finding; the Tribunal also condoned the delay in filing the appeal. The operative effect requires the AO to apply 80% of claimed improvement amounts for the specified years and allow corresponding indexed deduction.
Deduction for indexed cost of improvement was allowed in part where documentary proof was incomplete: exercising evaluative discretion, the Tribunal permitted 80% of the improvement cost claimed to be adopted for computing the indexed cost of improvement and directed the assessing officer to recompute and grant the deduction accordingly, setting aside the contrary appellate finding; the Tribunal also condoned the delay in filing the appeal. The operative effect requires the AO to apply 80% of claimed improvement amounts for the specified years and allow corresponding indexed deduction.
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