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...
Revenue records prevailed over guideline-value entries in determining whether the land was agricultural, and clear evidence of agricultural classification and activity required exclusion of the land from the definition of capital asset for capital gains tax. The HC held that the Tribunal and first appellate authority misread the material, ignored revenue records, sale deeds, photographs and agricultural income evidence, and wrongly treated the land as non-agricultural; that finding was reversed in favour of the assessee. The Court also held that the Tribunal had jurisdiction to revisit the assessments and entertain appeals from both sides, so its competence was upheld even though its merits reasoning was disapproved.
Revenue records prevailed over guideline-value entries in determining whether the land was agricultural, and clear evidence of agricultural classification and activity required exclusion of the land from the definition of capital asset for capital gains tax. The HC held that the Tribunal and first appellate authority misread the material, ignored revenue records, sale deeds, photographs and agricultural income evidence, and wrongly treated the land as non-agricultural; that finding was reversed in favour of the assessee. The Court also held that the Tribunal had jurisdiction to revisit the assessments and entertain appeals from both sides, so its competence was upheld even though its merits reasoning was disapproved.
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