Revenue-neutral domestic transfer pricing and mirror transactions justified deletion of related-party adjustments for operation, maintenance and port ...
Levy of penalty - appellant as the Customs Broker was vicariously responsible for the actions of his employees or not - export consignment was highly overvalued - The Tribunal noted that the appellant was not involved in filing the incorrect shipping bills and had no knowledge of them. Consequently, the penalties imposed under Sections 114 and 117 of the Customs Act were deemed unjustifiable.
Levy of penalty - appellant as the Customs Broker was vicariously responsible for the actions of his employees or not - export consignment was highly overvalued - The Tribunal noted that the appellant was not involved in filing the incorrect shipping bills and had no knowledge of them. Consequently, the penalties imposed under Sections 114 and 117 of the Customs Act were deemed unjustifiable.
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