https://www.taxtmi.com/caselaws?id=236083 A circular fixing a floor rate for imported raw cashew nuts could guide advance tax collection, but it could not replace an independent final assessment based on the actual transaction value and the evidence produced by the assessee. The assessing authority was required to consider the assessee's documents and test their correctness or credibility, rather than proceed mechanically on the circular alone. Because the assessment orders did not show such independent consideration, the impugned assessments were set aside and the matter was remitted for fresh assessment after hearing the assessee and examining the materials on record. en-us Tue, 10 Apr 2012 00:00:00 +0530 Tue, 13 Aug 2013 13:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236083 A circular fixing a floor rate for imported raw cashew nuts could guide advance tax collection, but it could not replace an independent final assessment based on the actual transaction value and the evidence produced by the assessee. The assessing authority was required to consider the assessee's documents and test their correctness or credibility, rather than proceed mechanically on the circular alone. Because the assessment orders did not show such independent consideration, the impugned assessments were set aside and the matter was remitted for fresh assessment after hearing the assessee and examining the materials on record. Case-Laws VAT and Sales Tax Tue, 10 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236083