Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
HC held that the validity of FERA show-cause notices issued after repeal turned on whether the issuing officer had legal authority under the repeal-and-savings scheme in FEMA. Relying on the earlier co-ordinate Bench ruling in First Global Stockbroking Pvt. Ltd. v. R.M. Ramchandani, the Court held that the same officer was not empowered to act as adjudicating officer for notices under the repealed enactment. As no stay of that ruling existed and no distinguishing facts were shown, the notices were found to be without jurisdiction and were quashed.
HC held that the validity of FERA show-cause notices issued after repeal turned on whether the issuing officer had legal authority under the repeal-and-savings scheme in FEMA. Relying on the earlier co-ordinate Bench ruling in First Global Stockbroking Pvt. Ltd. v. R.M. Ramchandani, the Court held that the same officer was not empowered to act as adjudicating officer for notices under the repealed enactment. As no stay of that ruling existed and no distinguishing facts were shown, the notices were found to be without jurisdiction and were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
