Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
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Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled.
Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled.
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