Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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Penalty for Customs Broker involvement in undervaluation of imported premium-brand engines was reduced as excessive. Although the substantially understated declared value warranted a penalty, the broker had sought first check of the consignment, bringing the issue to the department's notice. This bona fide conduct, the finding that the broker was not wholly responsible for the undervaluation, and the penalty already imposed in licensing proceedings supported a reduced penalty under the Customs Act. The appeal was partly allowed.
Penalty for Customs Broker involvement in undervaluation of imported premium-brand engines was reduced as excessive. Although the substantially understated declared value warranted a penalty, the broker had sought first check of the consignment, bringing the issue to the department's notice. This bona fide conduct, the finding that the broker was not wholly responsible for the undervaluation, and the penalty already imposed in licensing proceedings supported a reduced penalty under the Customs Act. The appeal was partly allowed.
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