Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Customs jurisdiction did not extend to alleged post-export foreign-exchange irregularities in rice exports where the goods' description, quantity and value were undisputed and rice was neither prohibited nor restricted. Export records, including phytosanitary certificates, supported the declared Iranian destination; after the Let Export Order and crossing territorial waters, title passed to the buyer. Buyer remittances were unchallenged, and no Iranian buyer complained, so diversion to the UAE rested on assumptions. High Court found no Customs Act contravention supporting confiscation or penalties and dismissed the Revenue appeals for want of a substantial question of law.
Customs jurisdiction did not extend to alleged post-export foreign-exchange irregularities in rice exports where the goods' description, quantity and value were undisputed and rice was neither prohibited nor restricted. Export records, including phytosanitary certificates, supported the declared Iranian destination; after the Let Export Order and crossing territorial waters, title passed to the buyer. Buyer remittances were unchallenged, and no Iranian buyer complained, so diversion to the UAE rested on assumptions. High Court found no Customs Act contravention supporting confiscation or penalties and dismissed the Revenue appeals for want of a substantial question of law.
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TaxTMI 
TaxTMI 
