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2018 (3) TMI 126 - AT - CustomsConfiscation of imported vehicle - import of one unit of second hand used Mitsubishi Pajero Vehicle with engine capacity of 2835 CC and 1993 model under Transfer of Residence facility - allowance of Depreciation - Held that: - the Tribunal had given directions to grant 70% depreciation on the value of the car while determining its assessable value. Since that Tribunal order has not been stayed or set aside by a higher appellate forum, the order became final for all purposes and the Commissioner (Appeals) was bound to comply the directions therein in toto - the Commissioner (Appeals) has granted only 52% depreciation which is not in consonance with the directions of the Tribunal. The 70% depreciation has to be allowed on the value of the vehicle - quantum of redemption fine and penalty reduced - appeal allowed in part.
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