Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
Royalty, franchise fee and related marketing spend were not includible in customs assessable value unless the payment was related to the imported goods and made as a condition of sale. The franchise fee here was paid for post-import rights to sell, distribute and promote branded goods in India, so it did not form part of transaction value. Advertisement, promotion and corporate marketing expenditure incurred by the buyer on its own account, and not to satisfy any obligation of the foreign seller, was likewise excluded. The extended period of limitation was unavailable because the import and valuation facts were already within Revenue's knowledge; confiscation, redemption fine and penalty were therefore set aside.
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