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...
Recovery of irregular or excess suo motu credit under Notification No. 39/2001-CE is treated as recovery of excise duty erroneously refunded where the credit is not reversed. The limitation applicable to erroneous refunds therefore governs such recovery. A recovery notice issued more than five years after credit was taken was time-barred, rendering the related demand, interest and penalty unsustainable. Annual differential-duty credit taken after submission of the prescribed statement and prolonged inaction by the jurisdictional officer was treated as compliant with the notification. Revenue authorities' cited decisions on different forms of suo motu adjustment or refund did not apply. The impugned order was consequently set aside.
Recovery of irregular or excess suo motu credit under Notification No. 39/2001-CE is treated as recovery of excise duty erroneously refunded where the credit is not reversed. The limitation applicable to erroneous refunds therefore governs such recovery. A recovery notice issued more than five years after credit was taken was time-barred, rendering the related demand, interest and penalty unsustainable. Annual differential-duty credit taken after submission of the prescribed statement and prolonged inaction by the jurisdictional officer was treated as compliant with the notification. Revenue authorities' cited decisions on different forms of suo motu adjustment or refund did not apply. The impugned order was consequently set aside.
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