Home Highlights December 2013 Year 2013 This

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1. Valuation - purchase of used / second-hand gold jewellery or ornaments - the term ‘second hand’ does not hold any meaning when it comes to items such as gold, land,...

2. Valuation of second hand machinery

3. Valuation of imported goods - Enhancement of value based on NIDB data - the department has failed to substantiate as to how the value adopted on the basis of NIDB data...

4. Import of second hand cars misdeclaring them as new - by giving the proximity of the date of manufacture and the date of import of the car, it cannot be said that the...

5. Import of second hand cars mis-declaring them as new - by giving the proximity of the date of manufacture and the date of import of the car, it cannot be said that the...

6. Determination of quantum of GST - used/ second hand gold jewellery - In the case of applicant dealing in second hand goods and invoicing his supplies as “second hand...

7. Addition u/s 56(2)(vii)(b) - alleged excess value of unquoted equity shares - In the absence of any defect in the valuation of shares arrived by the assessee on the...

8. Valuation - Reduction of subsidy for arriving at Ex-factory value in order to collect the GST on goods supplied to the customer under the rooftop solar project - The...

9. Levy of GST - Valuation - amount paid to the owner of the car and amount incurred for the refurbishment of the said car - the amount paid to the owner of the car and...

10. Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does...

11. Valuation of the import of car​​​​​​​ - the CESTAT criticized the adjudicating authority for rejecting the declared value...

12. Valuation - discount given on the Demo cars disallowed - value of the demo cars to be determined as per the price of normal cars cleared to the dealers - AT

13. Valuation of imported goods - rejection of declared value - enhancement of value - The CESTAT held that since the appellant had voluntarily waived the right to a show...

14. Enhancement of value of imports - Every second hand goods varies from each other depending upon the duration of use, manner of use and condition of the machine therefore...

15. Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...