Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Penalty under section 271G for failure to furnish transfer pricing documentation could not survive once the underlying transfer pricing adjustment had been deleted and that deletion had been affirmed. The Tribunal held that, with the foundation of the penalty proceedings removed, there was no basis to sustain the penalty on the same transaction. The Revenue's challenge to deletion of the penalty failed, and the appellate order was upheld. The assessee's cross-objection was dismissed as infructuous because the remaining grounds had become academic.
Penalty under section 271G for failure to furnish transfer pricing documentation could not survive once the underlying transfer pricing adjustment had been deleted and that deletion had been affirmed. The Tribunal held that, with the foundation of the penalty proceedings removed, there was no basis to sustain the penalty on the same transaction. The Revenue's challenge to deletion of the penalty failed, and the appellate order was upheld. The assessee's cross-objection was dismissed as infructuous because the remaining grounds had become academic.
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