The Authority dismissed the Departments appeal, confirming that geomembranes are textile products. The ruling relied on established judicial precedent and the product’s manufacturing process involving weaving.
ITAT held that estimating profit at 8% without considering records was excessive. It reduced the rate to 3% based on business realities. The key takeaway is that estimation must be reasonable and evidence-based.
ITAT rejected condonation of a 963-day delay as the assessee failed to provide supporting evidence for the reasons stated. The Tribunal held that mere claims without proof cannot justify delay.
CBIC updated tariff value tables under the Customs Act while retaining existing rates for key commodities. The ruling ensures continuity in customs valuation for imports like gold, silver, and edible oils.
The DGFT restricted imports of several precious metal items under Chapter 71 with immediate effect. The ruling removes transitional relief, making restrictions applicable despite existing contracts.
The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cross-border recovery of taxes, strengthening bilateral tax cooperation.
The authority held that accepting a plan from a non-listed applicant violated Regulation 39. The breach led to disciplinary action and suspension for three years
The Tribunal condoned a delay of 615 days after finding that the assessee was actively pursuing rectification remedies under Section 154. It held that such bona fide conduct constitutes sufficient cause and delay cannot be treated as negligence.
ITAT held that an unexplained delay of over 11 years cannot be condoned without valid reasons. The appeal was dismissed as no sufficient cause was proved.
The case examined whether sanction by JCIT was valid for reassessment beyond four years. The court held that such approval was invalid, making the notices unsustainable.
