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...
Request for conversion of free Shipping Bills into Drawback Shipping Bills - Long lapsed period between exports (1998) and the request for conversion (2007) - The Tribunal observed that conversion from free to drawback shipping bills is not merely an amendment but changes the entire nature of the document. The Tribunal reiterated that amendments under Section 149 are discretionary and can only be based on documents available at the time of export. Since there were no All-Industry Rates for the goods at the time of export and no brand rate applied for, the Tribunal found no basis for drawback claims. The Tribunal affirmed that notified All-Industry Rates are always prospective and cannot be applied retrospectively. Considering the significant lapse of time between exports and the request for conversion, the Tribunal upheld the Commissioner's decision not to allow the conversion.
Request for conversion of free Shipping Bills into Drawback Shipping Bills - Long lapsed period between exports (1998) and the request for conversion (2007) - The Tribunal observed that conversion from free to drawback shipping bills is not merely an amendment but changes the entire nature of the document. The Tribunal reiterated that amendments under Section 149 are discretionary and can only be based on documents available at the time of export. Since there were no All-Industry Rates for the goods at the time of export and no brand rate applied for, the Tribunal found no basis for drawback claims. The Tribunal affirmed that notified All-Industry Rates are always prospective and cannot be applied retrospectively. Considering the significant lapse of time between exports and the request for conversion, the Tribunal upheld the Commissioner's decision not to allow the conversion.
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