Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
A Section 7 application should not be rejected on maintainability without examining the real nature of the transaction where the materials disclose competing versions on whether the funds were a loan, a working-capital infusion, or a capital contribution. Entries in the corporate debtor's books showing the amount as long-term borrowing supported acknowledgment of debt, but the conflicting documents required fuller scrutiny, including the respondent's reply, before a decision on the nature of the debt could be made. The matter was therefore remanded for fresh consideration on merits, and capital contributions by directors or promoters were noted not to be retrospectively treated as financial debt without proper proof.
A Section 7 application should not be rejected on maintainability without examining the real nature of the transaction where the materials disclose competing versions on whether the funds were a loan, a working-capital infusion, or a capital contribution. Entries in the corporate debtor's books showing the amount as long-term borrowing supported acknowledgment of debt, but the conflicting documents required fuller scrutiny, including the respondent's reply, before a decision on the nature of the debt could be made. The matter was therefore remanded for fresh consideration on merits, and capital contributions by directors or promoters were noted not to be retrospectively treated as financial debt without proper proof.
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