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...
The Tribunal held that the Country of Origin Certificate and supporting transport and commercial documents established Uzbekistan as the origin of the imported ammonium nitrate, and Revenue failed to displace that evidence by verifying or disproving the certificate through the issuing authority. Recorded statements and electronic material were insufficient because the electronic evidence did not meet Section 138C requirements, lacked authentication, and did not link identified persons to the goods; denial of cross-examination also weakened the case. In the absence of credible corroboration and proof on bulk density, the reassessment, demand, confiscation, and penalties were unsustainable, and the impugned order was set aside.
The Tribunal held that the Country of Origin Certificate and supporting transport and commercial documents established Uzbekistan as the origin of the imported ammonium nitrate, and Revenue failed to displace that evidence by verifying or disproving the certificate through the issuing authority. Recorded statements and electronic material were insufficient because the electronic evidence did not meet Section 138C requirements, lacked authentication, and did not link identified persons to the goods; denial of cross-examination also weakened the case. In the absence of credible corroboration and proof on bulk density, the reassessment, demand, confiscation, and penalties were unsustainable, and the impugned order was set aside.
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