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...
Reassessment under section 147 was invalid where the AO reopened the case on AIR information on the premise that the assessee was a non-PAN holder and had not filed a return, although the original return had already disclosed the property transfer, capital gains particulars and exemption claim. The Tribunal also found that the statutory notice under section 148, which confers jurisdiction for reassessment, was never served and no effective attempt at service was shown. As the reopening was also initiated beyond six years from the relevant assessment year, the reassessment was held to be without jurisdiction and void ab initio.
Reassessment under section 147 was invalid where the AO reopened the case on AIR information on the premise that the assessee was a non-PAN holder and had not filed a return, although the original return had already disclosed the property transfer, capital gains particulars and exemption claim. The Tribunal also found that the statutory notice under section 148, which confers jurisdiction for reassessment, was never served and no effective attempt at service was shown. As the reopening was also initiated beyond six years from the relevant assessment year, the reassessment was held to be without jurisdiction and void ab initio.
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