Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Levy of penalty u/s 112(a) and Section 114AA of CA on Chartered Engineer - Issuance of Certificate under EPCG scheme without verification - The case involved the issuance of a Chartered Engineer Certificate for the installation and use of imported machinery under the EPCG scheme without verifying whether the machines were actually installed. The Department imposed penalties for non-compliance with verification requirements. The appellant argued good faith reliance on submitted documents and emphasized their limited role in verifying installation. However, the Tribunal held them liable for penalties, considering the seriousness of the offense.
Levy of penalty u/s 112(a) and Section 114AA of CA on Chartered Engineer - Issuance of Certificate under EPCG scheme without verification - The case involved the issuance of a Chartered Engineer Certificate for the installation and use of imported machinery under the EPCG scheme without verifying whether the machines were actually installed. The Department imposed penalties for non-compliance with verification requirements. The appellant argued good faith reliance on submitted documents and emphasized their limited role in verifying installation. However, the Tribunal held them liable for penalties, considering the seriousness of the offense.
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