Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Customs - Highlights / Catch Notes

Home Highlights November 2012 Year 2012 This

Undervaluation – import of old and used machinery – enhancement ...


Adjudicating Authority Applies Board's Valuation Method to Prevent Undervaluation of Imported Used Machinery.

November 2, 2012

Case Laws     Customs     AT

Undervaluation – import of old and used machinery – enhancement of value – Old and used machinery is inherently prone to undervaluation - Adjudicating authority correctly followed the valuation method prescribed by Board - AT

View Source

 


 

You may also like:

  1. Undervaluation of the goods imported - Rule 5 & Rule 6 of the Valuation Rules needs to be applied which contemplates for the application of contemporaneous value; which...

  2. Import of old and used machinery - adjudicating authority has followed the valuation method prescribed by Board for arriving at reasonable price - adjudication order is...

  3. AO rejected DCF method for valuation of shares issued as rights issue to existing shareholders. Instead, AO applied NAV method u/r 11UA determining FMV at Rs.3.07 per...

  4. Constitutionality and legality of Income Computation and Disclosure Standards (ICDS) II and Notification 87/2016, which mandate the use of the First In First Out (FIFO)...

  5. Undervaluation of goods - FOS and Sucralose when cleared to related parties and M/s Surya Herbals by not following CAS-4 valuation method as provided u/r 8 of Central...

  6. Method of valuation - Rule 11 is adopted when the situation is not covered by any of the other methods of valuation prescribed from Rule 4 to 10A. The method of...

  7. Addition u/s 56(2)(viib) - Method of valuation of shares - closely held company issues its shares at a premium - The tribunal sided with the assessee, affirming the FMV...

  8. Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

  9. Method of valuation - Applicability of most appropriate rule for valuation - it is not the method of valuation that determines the applicability but that the method...

  10. Additions u/s 56(2)(viib) - it is not denied that the assessee adopted clause (b) of Rule 11UA(2) of the Rules and accordingly obtained a Valuation Report from a...

  11. Valuation of the seized goods - (i) Grey metal powder suspected to be Iridium, (ii) Grey metal powder suspected to be Ruthenium, (iii) Micro SD Memory cards, (iv) Stone...

  12. Valuation of the shares offered for subscription - Determination of fair market value - Applicability of u/s 56(2)(viib) read along with Rule 11UA - Adoption of the Net...

  13. Method of Valuation - prototype vehicles - goods cleared from the factory on payment of duty under self invoice on the comparable value of the similar vehicle applying...

  14. Clandestine manufacture and recovery of Central Excise Duty along with interest and penalty - suppression of facts and misrepresentation alleged against petitioner -...

  15. TP adjustment - MAM selection - method used for benchmarking the royalty transaction - It may be true that the assessee aggregated payment of royalty with the...

 

Quick Updates:Latest Updates