Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Amounts paid for technical know-how, engineering and post-importation assistance are includible in assessable value only if they are shown to be a condition of sale of the imported goods. The contract here separately allocated obligations and consideration between technical services and supply of key equipment, with separate invoices and no contractual nexus proving that the services were a precondition for purchase of the imported machinery. The Tribunal therefore held that the separately contracted licence, engineering and technical assistance charges were not part of the transaction value of the imported plant and equipment, and could not be added to assessable value.
Amounts paid for technical know-how, engineering and post-importation assistance are includible in assessable value only if they are shown to be a condition of sale of the imported goods. The contract here separately allocated obligations and consideration between technical services and supply of key equipment, with separate invoices and no contractual nexus proving that the services were a precondition for purchase of the imported machinery. The Tribunal therefore held that the separately contracted licence, engineering and technical assistance charges were not part of the transaction value of the imported plant and equipment, and could not be added to assessable value.
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