Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Duty exemption under transferable DFIA licences cannot be denied to an importer merely on alleged licence irregularities where proceedings against the exporter resulted in the demand being dropped and the licences remained uncancelled. The notes state that, absent proof that the importer fraudulently used irregular licences, the customs duty demand is unsustainable on merits. They further state that the extended limitation period for duty recovery cannot be invoked once the allegation of fraudulent use fails. The impugned confirmation of customs duty, interest and the extended-period demand was set aside, with consequential benefits under law.
Duty exemption under transferable DFIA licences cannot be denied to an importer merely on alleged licence irregularities where proceedings against the exporter resulted in the demand being dropped and the licences remained uncancelled. The notes state that, absent proof that the importer fraudulently used irregular licences, the customs duty demand is unsustainable on merits. They further state that the extended limitation period for duty recovery cannot be invoked once the allegation of fraudulent use fails. The impugned confirmation of customs duty, interest and the extended-period demand was set aside, with consequential benefits under law.
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