Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
A written acceptance of enhanced customs value does not, by itself, extinguish an importer's statutory right to challenge reassessment; where letters show protest and the authority failed to consider them, rejection of the appeal on the sole ground of consent was unsustainable. Declared transaction value also cannot be rejected and redetermined without communicating written reasons for doubt and following the mandatory valuation procedure, and mere reference to contemporaneous import data or NIDB entries is insufficient without particulars and procedural compliance. The enhancement of value and consequential appellate orders were therefore set aside, and the appeals were allowed with consequential relief.
A written acceptance of enhanced customs value does not, by itself, extinguish an importer's statutory right to challenge reassessment; where letters show protest and the authority failed to consider them, rejection of the appeal on the sole ground of consent was unsustainable. Declared transaction value also cannot be rejected and redetermined without communicating written reasons for doubt and following the mandatory valuation procedure, and mere reference to contemporaneous import data or NIDB entries is insufficient without particulars and procedural compliance. The enhancement of value and consequential appellate orders were therefore set aside, and the appeals were allowed with consequential relief.
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