Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
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...
In search-related assessments under section 153A, additions were not sustainable in the absence of incriminating material found during the search. Cash shortage at business premises, cash found at residence, opening balance creditors, explained capital introduction, foreign currency purchases, and house construction/renovation were treated as explained on the record, while section 69C and section 69 additions failed because the revenue did not establish that the disputed expenditure or investment was outside the books. Disallowance under section 40A(3) also could not survive where the underlying expenditure was accepted and no specific contravening cash payment or rule 6DD breach was shown. The departmental appeals were rejected and the assessees' cross appeals were allowed to the extent additions had been sustained.
In search-related assessments under section 153A, additions were not sustainable in the absence of incriminating material found during the search. Cash shortage at business premises, cash found at residence, opening balance creditors, explained capital introduction, foreign currency purchases, and house construction/renovation were treated as explained on the record, while section 69C and section 69 additions failed because the revenue did not establish that the disputed expenditure or investment was outside the books. Disallowance under section 40A(3) also could not survive where the underlying expenditure was accepted and no specific contravening cash payment or rule 6DD breach was shown. The departmental appeals were rejected and the assessees' cross appeals were allowed to the extent additions had been sustained.
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