Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
For second-hand machinery, customs valuation must follow the statutory sequence under the Valuation Rules and cannot rest on internet offers, broad market estimates, or unsupported tonnage methods. Where imported cranes were examined, assessed on chartered engineer certification, and no reliable evidence of a higher transaction value or legally admissible corroboration existed, the later redetermination of assessable value and differential duty failed. A time-bar also applied to consignments beyond five years under Section 28, so duty could not survive on those imports. Mere mismatch between declared invoice value and later revalued figures did not prove misdeclaration for confiscation or penalty under Section 111(m); redemption fine and penalties were set aside. The same unsustainable valuation basis could not support finalisation of provisional assessment under Section 18.
For second-hand machinery, customs valuation must follow the statutory sequence under the Valuation Rules and cannot rest on internet offers, broad market estimates, or unsupported tonnage methods. Where imported cranes were examined, assessed on chartered engineer certification, and no reliable evidence of a higher transaction value or legally admissible corroboration existed, the later redetermination of assessable value and differential duty failed. A time-bar also applied to consignments beyond five years under Section 28, so duty could not survive on those imports. Mere mismatch between declared invoice value and later revalued figures did not prove misdeclaration for confiscation or penalty under Section 111(m); redemption fine and penalties were set aside. The same unsustainable valuation basis could not support finalisation of provisional assessment under Section 18.
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