https://www.taxtmi.com/caselaws?id=755170 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)'s decision to set aside the Order-in-Original. The Tribunal found the Revenue's Stay Petition meritless, as the impugned order was neither illegal nor beyond jurisdiction. It emphasized adherence to valuation rules, rejecting the enhancement of values without valid reasons, and ordered assessment at the declared invoice value. The Tribunal criticized the selective approach in using NIDB data and reinforced the need for fair assessment practices, aligning with a prior decision and a Supreme Court order, which stressed that transaction value should be the basis unless valid reasons justify deviation. en-us Thu, 20 Jun 2024 00:00:00 +0530 Sun, 07 Jul 2024 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755170 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner (Appeals)'s decision to set aside the Order-in-Original. The Tribunal found the Revenue's Stay Petition meritless, as the impugned order was neither illegal nor beyond jurisdiction. It emphasized adherence to valuation rules, rejecting the enhancement of values without valid reasons, and ordered assessment at the declared invoice value. The Tribunal criticized the selective approach in using NIDB data and reinforced the need for fair assessment practices, aligning with a prior decision and a Supreme Court order, which stressed that transaction value should be the basis unless valid reasons justify deviation. Case-Laws Customs Thu, 20 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755170