Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
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...
An appellate authority can entertain an alternate deduction claim even without a revised return where the claim is not a fresh item but a request to allow the same interest expenditure under the correct head, and the issue can be examined on existing material. The Tribunal rejected the Revenue's objection based on non-filing of a revised return and upheld admission of the claim in appeal. It also held that interest on borrowed funds remained deductible as business expenditure because the loan had been used for business and that factual finding was not displaced. The disallowance was therefore unsustainable and the Revenue's appeals failed.
An appellate authority can entertain an alternate deduction claim even without a revised return where the claim is not a fresh item but a request to allow the same interest expenditure under the correct head, and the issue can be examined on existing material. The Tribunal rejected the Revenue's objection based on non-filing of a revised return and upheld admission of the claim in appeal. It also held that interest on borrowed funds remained deductible as business expenditure because the loan had been used for business and that factual finding was not displaced. The disallowance was therefore unsustainable and the Revenue's appeals failed.
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