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...
Penalty under section 112(b) for town seizure of gold and silver ornaments depends on proof of foreign origin, illicit importation, conscious knowledge, and a nexus to handling, concealing, transporting, or harbouring the goods. The Tribunal found that the Department did not conclusively establish that the seized gold had been imported from Nepal, and a purity report of 98.15% was insufficient to prove foreign origin where imported foreign gold ordinarily exceeds 99.9% purity. Because deliberate involvement and conscious knowledge were also not shown, the nexus issue became immaterial and the penalty was set aside with consequential relief.
Penalty under section 112(b) for town seizure of gold and silver ornaments depends on proof of foreign origin, illicit importation, conscious knowledge, and a nexus to handling, concealing, transporting, or harbouring the goods. The Tribunal found that the Department did not conclusively establish that the seized gold had been imported from Nepal, and a purity report of 98.15% was insufficient to prove foreign origin where imported foreign gold ordinarily exceeds 99.9% purity. Because deliberate involvement and conscious knowledge were also not shown, the nexus issue became immaterial and the penalty was set aside with consequential relief.
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