Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
The Tribunal held that the extended period of limitation could not be invoked because the assessee's sales were made to a Government undertaking under proper invoices and through banking channels, with no evidence of clearance without invoices or any material showing suppression or misstatement to evade duty. It also upheld deductions from assessable value for pro rata recovery, cash discount, trading turnover, freight and sales tax, finding that the contractual terms and supporting documents justified their allowance. Excise duty was therefore confined to the actual transaction value received after eligible deductions, and the demand, interest and penalty were set aside.
The Tribunal held that the extended period of limitation could not be invoked because the assessee's sales were made to a Government undertaking under proper invoices and through banking channels, with no evidence of clearance without invoices or any material showing suppression or misstatement to evade duty. It also upheld deductions from assessable value for pro rata recovery, cash discount, trading turnover, freight and sales tax, finding that the contractual terms and supporting documents justified their allowance. Excise duty was therefore confined to the actual transaction value received after eligible deductions, and the demand, interest and penalty were set aside.
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