Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Evasion of custom duty - whether the Customs Act prohibits the criminal prosecution under the IPC - The investigating agency or the police would have jurisdiction to investigate the offence committed under the IPC. There may be some overlapping of two statues regarding the offence committed under IPC as well as under the Customs Act, but that would not preclude the registration of the FIR, investigating the offence and taking cognizance and summoning an accused, if after investigation it has been found that such an accused has committed the offence under the IPC besides the Customs Act. - HC
Evasion of custom duty - whether the Customs Act prohibits the criminal prosecution under the IPC - The investigating agency or the police would have jurisdiction to investigate the offence committed under the IPC. There may be some overlapping of two statues regarding the offence committed under IPC as well as under the Customs Act, but that would not preclude the registration of the FIR, investigating the offence and taking cognizance and summoning an accused, if after investigation it has been found that such an accused has committed the offence under the IPC besides the Customs Act. - HC
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