Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Under Notification No. 84/97-Cus, belated production of the Project Implementing Authority certificate, including the countersignature requirement, was treated as procedural rather than substantive. The Tribunal applied earlier precedent to hold that exemption could not be denied solely because the certificate was not filed in the exact prescribed form before clearance, where the project otherwise satisfied the notification. On that basis, the customs duty demand, interest, confiscation and penalty against the importer were set aside. The separate penalty on the bank was also unsustainable because the alleged omission was only procedural and no confiscation was upheld.
Under Notification No. 84/97-Cus, belated production of the Project Implementing Authority certificate, including the countersignature requirement, was treated as procedural rather than substantive. The Tribunal applied earlier precedent to hold that exemption could not be denied solely because the certificate was not filed in the exact prescribed form before clearance, where the project otherwise satisfied the notification. On that basis, the customs duty demand, interest, confiscation and penalty against the importer were set aside. The separate penalty on the bank was also unsustainable because the alleged omission was only procedural and no confiscation was upheld.
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