Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Levy of penalty - smuggling of Gold - baggage rules - The case involved the petitioner's challenge against the imposition of a penalty under Sections 112(a) and 112(b) of the Customs Act, 1962, for the importation of gold contrary to prohibition. Despite the petitioner's claims of ignorance, the court found evidence suggesting his knowledge and intent in carrying and concealing the gold. - The court clarified the difference between the strict liability concept u/s 112(a) and the requirement of mens rea u/s 112(b) - The court upheld the imposition of the penalty, emphasizing the petitioner's awareness of the law and the prohibited nature of the goods.
Levy of penalty - smuggling of Gold - baggage rules - The case involved the petitioner's challenge against the imposition of a penalty under Sections 112(a) and 112(b) of the Customs Act, 1962, for the importation of gold contrary to prohibition. Despite the petitioner's claims of ignorance, the court found evidence suggesting his knowledge and intent in carrying and concealing the gold. - The court clarified the difference between the strict liability concept u/s 112(a) and the requirement of mens rea u/s 112(b) - The court upheld the imposition of the penalty, emphasizing the petitioner's awareness of the law and the prohibited nature of the goods.
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