Customs Duty Valuation Increase Doesn't Trigger Section 69C of Income Tax Act for Unexplained Expenditure.

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....Addition u/s 69C - value of import goods enhanced by customs authorities - the value of the goods assessed/re-determined by the custom authorities as per valuation norms for the purpose of calculation of custom duty on the import. Therefore, the same would not attract the provisions of Section 69C of the Act, since, it has not been established as unexplained expenditure actually incurred by the assessee. - AT....