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...
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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