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...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Adjudication proceedings / Tax Administration - internal process of the customs administration - Valuation - Loading of value - The first appellate authority, in exercise of powers under section 128 of Customs Act, 1962, should have restricted itself to orders that cause grievance - there is an implied lack of jurisdiction for the Tribunal too to consider the merit of either side. It would, therefore, be appropriate for the first appellate authority to consider remedies appropriate to the grievance, if any and to the extent permitted by statutory conferment. - AT
Adjudication proceedings / Tax Administration - internal process of the customs administration - Valuation - Loading of value - The first appellate authority, in exercise of powers under section 128 of Customs Act, 1962, should have restricted itself to orders that cause grievance - there is an implied lack of jurisdiction for the Tribunal too to consider the merit of either side. It would, therefore, be appropriate for the first appellate authority to consider remedies appropriate to the grievance, if any and to the extent permitted by statutory conferment. - AT
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