Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Importers using transferable duty credit scrips through authorised customs clearance agents remain responsible for acts performed within the agent's authority when they retain the resulting duty benefit. Bona fide purchaser protection requires good faith and reasonable verification of a scrip's genuineness, validity and available credit; caveat emptor places that due-diligence burden on the importer. Incorrect Bill of Entry declarations and failure to investigate irregular clearance arrangements undermine that protection. Natural justice requires demonstrable prejudice: non-production of original scrips or denial of cross-examination does not invalidate proceedings where independent entitlement, transaction and investigation evidence establishes the facts. Fraud-related short-levy penalties may apply despite no personal execution of EDI manipulation, but separate overlapping penalties are mutually exclusive.
Importers using transferable duty credit scrips through authorised customs clearance agents remain responsible for acts performed within the agent's authority when they retain the resulting duty benefit. Bona fide purchaser protection requires good faith and reasonable verification of a scrip's genuineness, validity and available credit; caveat emptor places that due-diligence burden on the importer. Incorrect Bill of Entry declarations and failure to investigate irregular clearance arrangements undermine that protection. Natural justice requires demonstrable prejudice: non-production of original scrips or denial of cross-examination does not invalidate proceedings where independent entitlement, transaction and investigation evidence establishes the facts. Fraud-related short-levy penalties may apply despite no personal execution of EDI manipulation, but separate overlapping penalties are mutually exclusive.
Note: It is a system-generated summary and is for quick reference only.
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