Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
Admitted misdeclaration of imported used printers and accessories justified re-determination of customs value, which was sustained. Conditional redemption upon re-export is not permitted under the statutory scheme: where prohibited misdeclared goods cannot be cleared for home consumption and may only be re-exported, redemption fine is unjustified and was deleted. Misdeclaration of prohibited imported goods continues to attract penalty under Section 112(a)(i), although the penalty was reduced because redemption was unavailable. Section 114AA applies to business transactions involving false or incorrect information, rather than only fraudulent exports, and that penalty was sustained.
Admitted misdeclaration of imported used printers and accessories justified re-determination of customs value, which was sustained. Conditional redemption upon re-export is not permitted under the statutory scheme: where prohibited misdeclared goods cannot be cleared for home consumption and may only be re-exported, redemption fine is unjustified and was deleted. Misdeclaration of prohibited imported goods continues to attract penalty under Section 112(a)(i), although the penalty was reduced because redemption was unavailable. Section 114AA applies to business transactions involving false or incorrect information, rather than only fraudulent exports, and that penalty was sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
