Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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Penalty under section 270A was deleted because the assessee had voluntarily disclosed additional income in the return filed under section 153C and paid tax and interest before assessment proceedings began. The Tribunal treated the earlier omission in the section 139 return as an inadvertent, bona fide mistake and relied on the principle that penalty is not automatic merely because higher income is later offered and accepted. On those facts, the disclosure and payment were held sufficient to negate penalty.
Penalty under section 270A was deleted because the assessee had voluntarily disclosed additional income in the return filed under section 153C and paid tax and interest before assessment proceedings began. The Tribunal treated the earlier omission in the section 139 return as an inadvertent, bona fide mistake and relied on the principle that penalty is not automatic merely because higher income is later offered and accepted. On those facts, the disclosure and payment were held sufficient to negate penalty.
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