Split consignment classification treated complementary motorcycle parts as one imported motorcycle, sustaining valuation, confiscation and importer li...
Timely pronouncement of reserved judgments requires defined timelines, transparency measures, and remedial pathways to protect liberty and effective j...
Settlement-price depression requires proof of manipulation, not merely short exposure, late selling, or below-market orders, preserving disclosure pen...
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Section 263 revision cannot be invoked solely because the Assessing Officer did not initiate penalty proceedings under section 270A. Penalty proceedings are independent of assessment proceedings, so a failure to record an opinion on penalty liability does not make the assessment order erroneous and prejudicial to the interests of the Revenue. Revisional jurisdiction therefore cannot be used to direct initiation of penalty proceedings, including under a different penalty provision. The revision order was quashed and the assessee's appeal was allowed.
Section 263 revision cannot be invoked solely because the Assessing Officer did not initiate penalty proceedings under section 270A. Penalty proceedings are independent of assessment proceedings, so a failure to record an opinion on penalty liability does not make the assessment order erroneous and prejudicial to the interests of the Revenue. Revisional jurisdiction therefore cannot be used to direct initiation of penalty proceedings, including under a different penalty provision. The revision order was quashed and the assessee's appeal was allowed.
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