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...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Transferee importers using duty-free DFIA licences linked to fabricated exports must independently verify licence authenticity, underlying export documents and transfer release advice. Verification solely through the DGFT website is insufficient. Purchase through intermediaries does not remove customs duty, interest or penalty exposure where the importer fails to undertake due diligence with licensing or Customs authorities regarding the issuing exporter and claimed exports. The stated Tribunal approach treats absence of such verification as sufficient to sustain liability for imports made under fraudulent transferable export incentive licences.
Transferee importers using duty-free DFIA licences linked to fabricated exports must independently verify licence authenticity, underlying export documents and transfer release advice. Verification solely through the DGFT website is insufficient. Purchase through intermediaries does not remove customs duty, interest or penalty exposure where the importer fails to undertake due diligence with licensing or Customs authorities regarding the issuing exporter and claimed exports. The stated Tribunal approach treats absence of such verification as sufficient to sustain liability for imports made under fraudulent transferable export incentive licences.
Note: It is a system-generated summary and is for quick reference only.
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