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...
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For squared up loans, the surviving cash credit addition under section 68 was set aside for fresh adjudication because the assessee had now produced creditor confirmations and sought an effective opportunity, while the earlier record was found incomplete on identity, creditworthiness and genuineness. For three non-squared up loan creditors, the addition was deleted because the assessee had filed primary evidence such as returns, balance sheets, bank statements and confirmations, the creditors responded to notices, and the Revenue failed to rebut that evidence with cogent material; suspicion could not replace proof. The related interest disallowance was held to be consequential and was directed to be recomputed in line with the final treatment of the loan additions.
For squared up loans, the surviving cash credit addition under section 68 was set aside for fresh adjudication because the assessee had now produced creditor confirmations and sought an effective opportunity, while the earlier record was found incomplete on identity, creditworthiness and genuineness. For three non-squared up loan creditors, the addition was deleted because the assessee had filed primary evidence such as returns, balance sheets, bank statements and confirmations, the creditors responded to notices, and the Revenue failed to rebut that evidence with cogent material; suspicion could not replace proof. The related interest disallowance was held to be consequential and was directed to be recomputed in line with the final treatment of the loan additions.
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