Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Levy of penalty u/s 112(a) and 114AA of the Customs Act - detention of yacht - suspicion of foul play - evasion of Customs Duty - The initial burden to prove proper importation, under Section 123 ibid. was on the notices, some of whom have accepted the liability and thereby resulting in the non-discharge of the burden. The natural consequence which flows from the above is that the burden cast on the notices remained un-discharged and hence, they have to suffer consequence, namely the penalties in this case. This is because, they have all been identified to be part of different sides but of the same transaction. - AT
Levy of penalty u/s 112(a) and 114AA of the Customs Act - detention of yacht - suspicion of foul play - evasion of Customs Duty - The initial burden to prove proper importation, under Section 123 ibid. was on the notices, some of whom have accepted the liability and thereby resulting in the non-discharge of the burden. The natural consequence which flows from the above is that the burden cast on the notices remained un-discharged and hence, they have to suffer consequence, namely the penalties in this case. This is because, they have all been identified to be part of different sides but of the same transaction. - AT
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