Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
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Misdeclaration of aluminium goods led to reclassification of the live consignment as aluminium tubes under CTH 7608 2000, with declared value rejected on the strength of parallel invoices; confiscation was sustained, redemption fine reduced, penalty under Section 112(a) upheld, and penalty under Section 114AA set aside. For subsequent consignments, reclassification failed because no samples were drawn and no specific evidentiary finding identified the goods as tubes, so the demand, fine and penalties were set aside. For earlier imports, the extended period could not be invoked again on the same material, limiting duty only to admitted freight charges for the normal period. In the undervaluation matter, duty and interest survived only for the normal period, while penalties on the director and supplier-side officer were set aside.
Misdeclaration of aluminium goods led to reclassification of the live consignment as aluminium tubes under CTH 7608 2000, with declared value rejected on the strength of parallel invoices; confiscation was sustained, redemption fine reduced, penalty under Section 112(a) upheld, and penalty under Section 114AA set aside. For subsequent consignments, reclassification failed because no samples were drawn and no specific evidentiary finding identified the goods as tubes, so the demand, fine and penalties were set aside. For earlier imports, the extended period could not be invoked again on the same material, limiting duty only to admitted freight charges for the normal period. In the undervaluation matter, duty and interest survived only for the normal period, while penalties on the director and supplier-side officer were set aside.
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