https://www.taxtmi.com/caselaws?id=756857 Reassessment additions based solely on a valuation order could not survive once that foundational customs valuation was set aside by the customs appellate authority. The Income Tax Department had made no independent inquiry or collected other material to support the reassessment, so the basis for the additions disappeared. The Rajasthan HC found no independent legal issue requiring interference and held that the Tribunal's liberty for future action, if customs proceedings later succeeded, did not create a substantial question of law. The Revenue's appeal remained dismissed, leaving the assessee in favour. en-us Tue, 06 Aug 2024 00:00:00 +0530 Sat, 10 Aug 2024 09:06:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756857 Reassessment additions based solely on a valuation order could not survive once that foundational customs valuation was set aside by the customs appellate authority. The Income Tax Department had made no independent inquiry or collected other material to support the reassessment, so the basis for the additions disappeared. The Rajasthan HC found no independent legal issue requiring interference and held that the Tribunal's liberty for future action, if customs proceedings later succeeded, did not create a substantial question of law. The Revenue's appeal remained dismissed, leaving the assessee in favour. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756857