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...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Retrospectively amended Section 115JA was applied to treat amounts set aside for bad and doubtful debts as a provision for diminution in the value of an asset, so the addition in book profit computation was upheld and the assessee's challenge failed. By contrast, the audit report requirement for a deduction claim under Section 80IA(7) was treated as directory for the relevant period, so failure to file it before assessment did not defeat the claim when the report was produced before the appellate authority. The appeal was therefore partly allowed, with the Revenue succeeding on book profit treatment and the assessee succeeding on the audit-report issue.
Retrospectively amended Section 115JA was applied to treat amounts set aside for bad and doubtful debts as a provision for diminution in the value of an asset, so the addition in book profit computation was upheld and the assessee's challenge failed. By contrast, the audit report requirement for a deduction claim under Section 80IA(7) was treated as directory for the relevant period, so failure to file it before assessment did not defeat the claim when the report was produced before the appellate authority. The appeal was therefore partly allowed, with the Revenue succeeding on book profit treatment and the assessee succeeding on the audit-report issue.
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