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...
Confiscation of seized truck u/s 115(2) of the Customs Act, 1962 - levy of penalty - The case involved the seizure and subsequent confiscation of a vehicle allegedly involved in smuggling activities. The appellant, the owner of the vehicle, claimed innocence, stating that the driver loaded the goods without his knowledge. Despite contesting the allegations and highlighting financial hardship, the Adjudicating Authority imposed a redemption fine and penalty. The appellant appealed, arguing lack of evidence and financial strain. The CESTAT, while acknowledging the appellant's limited involvement and financial condition, upheld partial accountability and reduced the penalties imposed.
Confiscation of seized truck u/s 115(2) of the Customs Act, 1962 - levy of penalty - The case involved the seizure and subsequent confiscation of a vehicle allegedly involved in smuggling activities. The appellant, the owner of the vehicle, claimed innocence, stating that the driver loaded the goods without his knowledge. Despite contesting the allegations and highlighting financial hardship, the Adjudicating Authority imposed a redemption fine and penalty. The appellant appealed, arguing lack of evidence and financial strain. The CESTAT, while acknowledging the appellant's limited involvement and financial condition, upheld partial accountability and reduced the penalties imposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
