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CESTAT rules that importers who unconditionally accept and pay enhanced customs valuation without protest waive their right to challenge it later. The tribunal distinguished the Delhi HC's Niraj Silk Mills precedent, emphasizing procedural fairness in valuation disputes under the Customs Act.
ITAT Lucknow rules that the Assessing Officer must refer valuation disputes to the Departmental Valuation Officer under Section 50C before making Long Term Capital Gains additions, even if the assessment deadline is imminent. The tribunal set aside the addition, reinforcing statutory compliance over procedural expediency in tax assessments.
CESTAT Chennai rules that tyres secured with plastic straps do not qualify as 'pre-packaged commodities' under the Legal Metrology Act, 2009, exempting them from valuation under Section 4A of the Central Excise Act. The ruling quashes a ₹221 crore demand, interest, and penalty, setting a precedent for similar valuation disputes in the tyre industry.