PAWAN JAUN,GUWAHATI vs. INCOME TAX OFFICER, ARD-4(2), GUWAHATI

ITA 128/GTY/2019Status: DisposedITAT Guwahati16 March 2021AY 2015-163 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the valuation adopted by customs authorities for duty purposes, based on a specific formula, cannot be the sole basis to conclude that the assessee suppressed the actual purchase value of imported goods. The Assessing Officer had no other evidence to support the addition.

What were the facts?

The assessee's appeal concerns an addition of Rs. 2,91,19,670/- made by the lower authorities. This addition was based on the difference between the import purchase value declared by the assessee and the valuation determined by customs authorities for levy of custom duty.

What were the issues?

Whether the valuation of imported goods by customs authorities for duty purposes can be the sole basis for making an addition to the assessee's income without other supporting evidence.

Which sections of the Income-tax Act were involved?

Not explicitly mentioned

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” GAUHATI

Before: Shri Sanjay Garg

The present appeal has been preferred by the assessee against the order dated 20-12-2018 of the Commissioner of Income-tax (Appeals), Guwahati [hereinafter referred to as ‘CIT(A)’].

2.

The sole issue raised by the assessee in this appeal is relating to addition of Rs. 2,91,19,670/- made/confirmed by the lower authorities on account of difference between import purchase value shown by the assessee compared to the valuation by the Custom authorities for the purpose of levy of custom duty as per the Customs Valuation (Det

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

Recent GST High Court judgments

Search GST case law →