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...
Quantum of penalty - Absolute confiscation - Smuggling of Gold Bars - prohibited goods or not - The Tribunal, accepting the arguments of revenue, held that, since no proper documents were available for these gold bars, they are to be categorized as prohibited goods. Hence, the submission of the appellant that penalty should be either equivalent to 10% of the quantified duty amount or Rs. 5,000/- whichever is higher, is rejected.
Quantum of penalty - Absolute confiscation - Smuggling of Gold Bars - prohibited goods or not - The Tribunal, accepting the arguments of revenue, held that, since no proper documents were available for these gold bars, they are to be categorized as prohibited goods. Hence, the submission of the appellant that penalty should be either equivalent to 10% of the quantified duty amount or Rs. 5,000/- whichever is higher, is rejected.
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