https://www.taxtmi.com/caselaws?id=397759 The text discusses valuation of goods cleared by a holding company where subsidiary-incurred marketing, advertising and promotional expenses were proposed for inclusion in assessable value. It states that such inclusion requires proper application of the valuation scheme and a reasoned basis for rejecting declared value, and that those expenses cannot be added automatically. It also explains that loans, common directors and consolidated accounts do not by themselves establish related-person status or mutuality of interest. On limitation, it notes that the extended period depends on a properly examined suppression case, especially where provisional assessment material was furnished. The matter was remitted for fresh adjudication on valuation, relationship and limitation. en-us Tue, 03 Mar 2020 00:00:00 +0530 Fri, 28 Aug 2020 15:36:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397759 The text discusses valuation of goods cleared by a holding company where subsidiary-incurred marketing, advertising and promotional expenses were proposed for inclusion in assessable value. It states that such inclusion requires proper application of the valuation scheme and a reasoned basis for rejecting declared value, and that those expenses cannot be added automatically. It also explains that loans, common directors and consolidated accounts do not by themselves establish related-person status or mutuality of interest. On limitation, it notes that the extended period depends on a properly examined suppression case, especially where provisional assessment material was furnished. The matter was remitted for fresh adjudication on valuation, relationship and limitation. Case-Laws Customs Tue, 03 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397759