Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
Penalty under section 112(b)(i) of the Customs Act may be sustained where a person dealing with confiscated foreign-brand cigarettes fails to substantiate, through documents, the claimed receipt and return of the goods. The text states that the penalty was upheld on that basis. It further notes that penalty quantum must remain proportionate to the value of confiscated cigarettes; a penalty considered highly excessive was reduced for the person from whose premises the cigarettes were recovered.
Penalty under section 112(b)(i) of the Customs Act may be sustained where a person dealing with confiscated foreign-brand cigarettes fails to substantiate, through documents, the claimed receipt and return of the goods. The text states that the penalty was upheld on that basis. It further notes that penalty quantum must remain proportionate to the value of confiscated cigarettes; a penalty considered highly excessive was reduced for the person from whose premises the cigarettes were recovered.
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