Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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Seeking re-export of goods - Absolute confiscation of goods - breach of ‘intellectual property rights’ - The tribunal found that while the goods were correctly confiscated under sections 111(d), 111(f), 111(l), and 111(m) of the Customs Act, 1962, the option for re-export should have been given for goods that were importable under specific conditions. - It was determined that while the goods were rightly confiscated due to violations of import regulations, the method of handling the aftermath, including the destruction of goods and some of the penalty assessments, was inappropriate and exceeded legal authority.
Seeking re-export of goods - Absolute confiscation of goods - breach of ‘intellectual property rights’ - The tribunal found that while the goods were correctly confiscated under sections 111(d), 111(f), 111(l), and 111(m) of the Customs Act, 1962, the option for re-export should have been given for goods that were importable under specific conditions. - It was determined that while the goods were rightly confiscated due to violations of import regulations, the method of handling the aftermath, including the destruction of goods and some of the penalty assessments, was inappropriate and exceeded legal authority.
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