Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
Provisional release of imported perishable goods pending tariff classification was made conditional on stronger revenue safeguards because the classification dispute over roasted versus dried areca nuts remained for competent adjudication and the importer's financial position did not adequately secure possible dues. The Court noted that a prima facie expert report suggested no roasting, and that tariff valuation would depend on whether Section 14(2) applied. It modified the release conditions to require deposit of 50% of the determined amount and a bank guarantee for 25%, while also holding that customs authorities had unduly delayed adjudication without justification. It directed issuance of a show cause notice within two weeks and completion of adjudication within the fixed timeline.
Provisional release of imported perishable goods pending tariff classification was made conditional on stronger revenue safeguards because the classification dispute over roasted versus dried areca nuts remained for competent adjudication and the importer's financial position did not adequately secure possible dues. The Court noted that a prima facie expert report suggested no roasting, and that tariff valuation would depend on whether Section 14(2) applied. It modified the release conditions to require deposit of 50% of the determined amount and a bank guarantee for 25%, while also holding that customs authorities had unduly delayed adjudication without justification. It directed issuance of a show cause notice within two weeks and completion of adjudication within the fixed timeline.
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