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...
CESTAT Chandigarh addressed the import of 'Prime Pre-painted Steel Coils (Non Alloy)' and whether they were restricted goods violating DGFT policy conditions. The tribunal noted lack of sufficient reasons for imposing redemption fine and penalty in the Commissioner's order. Previous order found no mis-declaration by the appellant, setting aside confiscation u/s 111(d) and redemption fine but retaining penalty u/s 112(a). Confiscation being set aside negates penalty imposition. No malafide intent to evade duty was found, citing precedents like John Deere India Pvt Ltd. Decision allowed the appeals, setting aside both orders with appropriate relief.
CESTAT Chandigarh addressed the import of 'Prime Pre-painted Steel Coils (Non Alloy)' and whether they were restricted goods violating DGFT policy conditions. The tribunal noted lack of sufficient reasons for imposing redemption fine and penalty in the Commissioner's order. Previous order found no mis-declaration by the appellant, setting aside confiscation u/s 111(d) and redemption fine but retaining penalty u/s 112(a). Confiscation being set aside negates penalty imposition. No malafide intent to evade duty was found, citing precedents like John Deere India Pvt Ltd. Decision allowed the appeals, setting aside both orders with appropriate relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
