SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Beneficial owners exercising effective control over imported goods may be treated as importers and held liable for customs duty, interest, penalty and fine, including authorised signatories acting under powers of attorney for a deceased sole proprietor. Transaction value cannot be rejected merely on NIDB data unless evidence establishes that the declared price was not the price actually paid or payable, supported by comparable-goods analysis. Where quantity misdeclaration is admitted, duty may be recovered on undeclared goods at the declared value. Findings on live consignments cannot, without proof of undervaluation, justify enhancing assessable value of past cleared consignments or confiscating them. A substantial non-bona-fide quantity discrepancy may sustain penalty under Section 114AA, although other penalty and confiscation directions may fail.
Beneficial owners exercising effective control over imported goods may be treated as importers and held liable for customs duty, interest, penalty and fine, including authorised signatories acting under powers of attorney for a deceased sole proprietor. Transaction value cannot be rejected merely on NIDB data unless evidence establishes that the declared price was not the price actually paid or payable, supported by comparable-goods analysis. Where quantity misdeclaration is admitted, duty may be recovered on undeclared goods at the declared value. Findings on live consignments cannot, without proof of undervaluation, justify enhancing assessable value of past cleared consignments or confiscating them. A substantial non-bona-fide quantity discrepancy may sustain penalty under Section 114AA, although other penalty and confiscation directions may fail.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
