Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
A customs broker's failure to verify the authenticity of duty credit scrips was treated as conscious facilitation where forged, duplicated and re-registered DGFT scrips were used for duty debit. The Tribunal held that the broker was bound to insist on physical copies or verify the scrip particulars from the DGFT database, since the clearance condition required production of the scrip before the proper officer for debit. On the facts, the repeated use of forged scrips and complete lack of verification justified liability under section 114AA, and the penalty was upheld. The Tribunal distinguished an earlier CESTAT ruling because intent and knowledge had been specifically addressed here.
A customs broker's failure to verify the authenticity of duty credit scrips was treated as conscious facilitation where forged, duplicated and re-registered DGFT scrips were used for duty debit. The Tribunal held that the broker was bound to insist on physical copies or verify the scrip particulars from the DGFT database, since the clearance condition required production of the scrip before the proper officer for debit. On the facts, the repeated use of forged scrips and complete lack of verification justified liability under section 114AA, and the penalty was upheld. The Tribunal distinguished an earlier CESTAT ruling because intent and knowledge had been specifically addressed here.
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