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 2015 Year 2015 This

Import of high end luxury cars from various foreign suppliers by ...

Customs

November 18, 2015

Import of high end luxury cars from various foreign suppliers by mis-declaring as new - Undervaluation of goods - Appellant is a subsequent purchase of the car - the contention that valuation of the car and that the car is not an old car is not acceptable - redemption fine reduced to ₹ 5 lakhs - penalties set aside - AT

View Source

 


 

You may also like:

  1. Valuation - transaction value of food supplements imported - undervaluation and mis-declaration of goods - rejection of declared value - In the present case, it is...

  2. Undervaluation - mis-declaration - there is no reference to any evidence on record to create a doubt about transaction value or to believe the certificate given by the...

  3. Imposition of penalty on sales agent of foreign supplier u/s 112(a) and/ or 112(b) of the Customs Act, 1962 - omission/ commission committed by sales agent of foreign...

  4. Assessment of trust - purchase of luxury car i.e. Audi Car - purchase of for the benefit of trustess only or not for charitable use? - Merely because the vehicle happens...

  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. Valuation of the imported goods - Mis-classification of goods - While the CESTAT upheld the under-valuation allegation, it dropped the demand related to...

  7. Undervaluation - Imports of high-end foreign cars - The appellate tribunal noted that the assessable value was determined using various sources, including the car...

  8. Confiscating absolutely seven gold bars having foreign make marking - Smuggling - Hyundai Verna Car - sufficient evidence to prove foreign origin goods - The Tribunal...

  9. Undervaluation of imported goods - Brass Scrap, Electrolytic Copper Wire Bars/ Rods, LLDPE etc - ITC violation - mis-declaration of importer's relationship with the...

  10. Import of Toyota Land Cruiser Prada Car - Mis declaration of model of the car as 1996 model, which is actually 2003 - applicant failed to make out a prima facie case - AT

  11. Foreign Exchange Management (Nondebt Instruments) Amendment Rules, 2024 - Various amendments made.

  12. Nature of loss on the sale of foreign - the foreign cars do not form part of a block of assets and, admittedly, have not been granted depreciation - the foreign cars...

  13. Valuation of imported goods - stamping foils - rejection of declared value - The tribunal found that the department's reliance on proforma invoices for A-grade goods was...

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

  15. Capital loss on the sale of the foreign cars - when the sale of the cars itself flow from the terms of the lease agreement and the terms of the agreement thus not...

 

Quick Updates:Latest Updates