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...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
The Tribunal addressed double disallowance of a subsidiary investment write-off by noting that the amount had already been added back in the return, so the Assessing Officer had duplicated the disallowance; the duplicate addition was to be deleted and the allowed deduction then given effect. It also accepted that fresh claims may be entertained on appeal and excluded broken period interest on debentures because the income had only accrued notionally and was already absorbed in the later capital gains on sale, avoiding double taxation. A dividend treaty-rate claim for non-resident shareholders was remanded for lack of foundational treaty-eligibility and tax-treatment material, and the challenge to initiation of penalty proceedings was dismissed as premature.
The Tribunal addressed double disallowance of a subsidiary investment write-off by noting that the amount had already been added back in the return, so the Assessing Officer had duplicated the disallowance; the duplicate addition was to be deleted and the allowed deduction then given effect. It also accepted that fresh claims may be entertained on appeal and excluded broken period interest on debentures because the income had only accrued notionally and was already absorbed in the later capital gains on sale, avoiding double taxation. A dividend treaty-rate claim for non-resident shareholders was remanded for lack of foundational treaty-eligibility and tax-treatment material, and the challenge to initiation of penalty proceedings was dismissed as premature.
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