Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
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...
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Disciplinary action against a Customs Broker could be initiated on the basis of a show cause notice forwarded by Tuticorin Customs as the relevant offence report under the Customs Broker Licensing Regulations. However, the Tribunal held that notice under Regulation 17(1) had to issue within ninety days of receipt of the offence report, and the Cochin Customs notice issued on 17.10.2022 was beyond that period if the Tuticorin notice dated 09.03.2022 was treated as the trigger. Because the prescribed procedure and timelines under Regulation 17 were not strictly followed, the penalty order under Regulation 18 was unsustainable and was set aside.
Disciplinary action against a Customs Broker could be initiated on the basis of a show cause notice forwarded by Tuticorin Customs as the relevant offence report under the Customs Broker Licensing Regulations. However, the Tribunal held that notice under Regulation 17(1) had to issue within ninety days of receipt of the offence report, and the Cochin Customs notice issued on 17.10.2022 was beyond that period if the Tuticorin notice dated 09.03.2022 was treated as the trigger. Because the prescribed procedure and timelines under Regulation 17 were not strictly followed, the penalty order under Regulation 18 was unsustainable and was set aside.
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