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Supreme Court Allows Appeal in Customs Valuation Dispute — Mandamus Issued to Assess Imported Scrap on Transaction Value. Court Holds That Declared Transaction Value Must Be Accepted Unless Proper Officer Follows Procedure Under Section 14 and Rule 12 of Customs Valuation Rules, 2007.

The appellants, Century Metal Recycling Pvt. Ltd. and Gauri Shankar Agarwala, filed a writ petition before the Allahabad High Court challenging the pr...

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WRIT PETITION NO. 73 OF 2015

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Karnataka High Court Dharwad Bench Hears Revenue Appeal Against ITAT Order Deleting Penalty Under Section 271(1)(c) for Assessment Year 2006-07 Due to Defective Notice; Questions Validity of Penalty Initiation Despite Retrospective Amendment to Section 271(1B)

The appeal before the High Court of Karnataka, Dharwad Bench, arose from the order of the Income Tax Appellate Tribunal, Bengaluru, which had allowed ...