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...
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Release of seized goods - Arecanuts - prohibited goods - reason to believe - The High court finds that the Revenue Authorities failed to present credible and objective material to support their belief that the Arecanuts were of foreign origin. - Despite relying on trade opinions and the ARDF report, the court determines that the evidence provided was insufficient to establish a valid "reason to believe" under the Customs Act. - Based on the findings, the court quashes the seizure order and directs the release of the goods, as the Revenue Authorities failed to meet the legal requirements for seizure.
Release of seized goods - Arecanuts - prohibited goods - reason to believe - The High court finds that the Revenue Authorities failed to present credible and objective material to support their belief that the Arecanuts were of foreign origin. - Despite relying on trade opinions and the ARDF report, the court determines that the evidence provided was insufficient to establish a valid "reason to believe" under the Customs Act. - Based on the findings, the court quashes the seizure order and directs the release of the goods, as the Revenue Authorities failed to meet the legal requirements for seizure.
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