Functional comparability under TNMM supported exclusion of ITeS comparables with R&D, intangibles, diversified operations, or unavailable segmental da...
Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Import of Embroidery Beads/Stones - the description of the goods in the test report was only an elaboration of the description already given in the bills of entry and nothing else. This cannot be called a mis-declaration of the description of the goods. Therefore, confiscation of the goods under Section 111 (m) and imposition of penalty under Section 125 cannot be sustained and need to be set aside. - AT
Import of Embroidery Beads/Stones - the description of the goods in the test report was only an elaboration of the description already given in the bills of entry and nothing else. This cannot be called a mis-declaration of the description of the goods. Therefore, confiscation of the goods under Section 111 (m) and imposition of penalty under Section 125 cannot be sustained and need to be set aside. - AT
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