Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
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...
Breach of the secure transit obligation under cargo handling regulations, by itself, did not establish abetment of attempted export of prohibited goods. The essential basis for penalty under Section 114 was knowledge that the goods were liable to confiscation, or admissible evidence of active participation or positive collusion, and that evidentiary burden was not met. A mere omission in secure transport, without proof of such knowledge or abetment, was insufficient. The penalty was therefore unsustainable and was set aside, and the appeal was allowed.
Breach of the secure transit obligation under cargo handling regulations, by itself, did not establish abetment of attempted export of prohibited goods. The essential basis for penalty under Section 114 was knowledge that the goods were liable to confiscation, or admissible evidence of active participation or positive collusion, and that evidentiary burden was not met. A mere omission in secure transport, without proof of such knowledge or abetment, was insufficient. The penalty was therefore unsustainable and was set aside, and the appeal was allowed.
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