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...
Excess drawback paid under self-assessed export shipping bills cannot be recovered directly under Section 75A(2) merely because exported goods were subsequently found misclassified. A subsisting self-assessment remains the basis of payment until the proper officer reassesses it under Section 17(4), or follows the Section 18 procedure where applicable, to determine liability. Recovery proceedings initiated without prior reassessment, and consequential revisional and appellate orders, were set aside. Reassessment or other action under Sections 17 and 18 may be pursued where legally permissible.
Excess drawback paid under self-assessed export shipping bills cannot be recovered directly under Section 75A(2) merely because exported goods were subsequently found misclassified. A subsisting self-assessment remains the basis of payment until the proper officer reassesses it under Section 17(4), or follows the Section 18 procedure where applicable, to determine liability. Recovery proceedings initiated without prior reassessment, and consequential revisional and appellate orders, were set aside. Reassessment or other action under Sections 17 and 18 may be pursued where legally permissible.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
