Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Under the EPCG framework, the Tribunal treated the FTDR Act, Foreign Trade Policy, Handbook of Procedures and Customs notification as an integrated scheme and held that fulfilment of export obligation and validity of EODCs primarily lie with DGFT. Third-party exports were recognised as permissible under the scheme, which is value-based and does not require a rigid one-to-one correlation between imported capital goods and each export consignment. Because the EODCs had been restored by the competent DGFT appellate authority and the alleged fraud was not supported by primary documentary evidence, Customs could not disregard those subsisting determinations or deny EPCG benefits. On the same reasoning, penalties, confiscation and redemption fine were unsustainable.
Under the EPCG framework, the Tribunal treated the FTDR Act, Foreign Trade Policy, Handbook of Procedures and Customs notification as an integrated scheme and held that fulfilment of export obligation and validity of EODCs primarily lie with DGFT. Third-party exports were recognised as permissible under the scheme, which is value-based and does not require a rigid one-to-one correlation between imported capital goods and each export consignment. Because the EODCs had been restored by the competent DGFT appellate authority and the alleged fraud was not supported by primary documentary evidence, Customs could not disregard those subsisting determinations or deny EPCG benefits. On the same reasoning, penalties, confiscation and redemption fine were unsustainable.
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