Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Penalty under Section 271(1)(c) was held unsustainable where the underlying quantum addition for alleged bogus purchases represented only an estimated profit element and not a definite, proved concealment. The ITAT deleted the penalty for Assessment Year 2010-2011 on the ground that estimated additions alone do not justify penalty. For Assessment Year 2011-2012, the appellate order sustaining penalty was set aside because the assessee's submissions had not been considered; the matter was remanded for fresh adjudication after giving reasonable opportunity and addressing the material placed on record.
Penalty under Section 271(1)(c) was held unsustainable where the underlying quantum addition for alleged bogus purchases represented only an estimated profit element and not a definite, proved concealment. The ITAT deleted the penalty for Assessment Year 2010-2011 on the ground that estimated additions alone do not justify penalty. For Assessment Year 2011-2012, the appellate order sustaining penalty was set aside because the assessee's submissions had not been considered; the matter was remanded for fresh adjudication after giving reasonable opportunity and addressing the material placed on record.
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