Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Vicarious liability under FEMA arises where a person is in charge of and responsible for the company's business; office alone does not establish that responsibility. The Financial Advisor and Chief Accounts Officer's authority to sign export-related, import and bank-account documents established assigned responsibility for export transactions, making him liable for neglect in the company's non-realisation of export proceeds, although consent or connivance was not proved. FEMA penalties are civil and may apply to technical or procedural contraventions without proving mens rea. The Tribunal sustained liability for neglect but limited the penalty to the pre-deposit already made and deleted the balance.
Vicarious liability under FEMA arises where a person is in charge of and responsible for the company's business; office alone does not establish that responsibility. The Financial Advisor and Chief Accounts Officer's authority to sign export-related, import and bank-account documents established assigned responsibility for export transactions, making him liable for neglect in the company's non-realisation of export proceeds, although consent or connivance was not proved. FEMA penalties are civil and may apply to technical or procedural contraventions without proving mens rea. The Tribunal sustained liability for neglect but limited the penalty to the pre-deposit already made and deleted the balance.
Note: It is a system-generated summary and is for quick reference only.
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