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...
Freight and insurance were held includible in the assessable value under Rule 10(2) because the importer failed to produce clear documentary proof that the FOB price already covered transportation and insurance up to importation; oral assertion alone was insufficient, and the invoice terms supported the Revenue's case. However, the demand was barred by limitation because the importer had disclosed the invoiced value and the treatment of freight and insurance in the bill of entry and supporting documents, so suppression or wilful misstatement was not proved. The Tribunal applied the principle that suppression requires a positive, deliberate act and treated the dispute as revenue neutral, allowing the appeal on limitation and setting aside the duty, interest and penalty.
Freight and insurance were held includible in the assessable value under Rule 10(2) because the importer failed to produce clear documentary proof that the FOB price already covered transportation and insurance up to importation; oral assertion alone was insufficient, and the invoice terms supported the Revenue's case. However, the demand was barred by limitation because the importer had disclosed the invoiced value and the treatment of freight and insurance in the bill of entry and supporting documents, so suppression or wilful misstatement was not proved. The Tribunal applied the principle that suppression requires a positive, deliberate act and treated the dispute as revenue neutral, allowing the appeal on limitation and setting aside the duty, interest and penalty.
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