Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could...
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The case involved misclassification and misdeclaration of goods for export incentives and higher drawback rates - Copper Strips/Earth Rods. The cargo declared for export was copper rods, but the actual cargo exported was copper strips. The mistake was due to a mix-up at the CFS gate. The exporter rectified the error with the authorities' guidance and re-imported the goods due to delays. Penalties imposed were deemed unjustified. No evidence of aiding or abetting was found against the second appellant. The lower authorities' actions lacked mala fide intent. The appeal was allowed, and the penalties on the second appellant were set aside.
The case involved misclassification and misdeclaration of goods for export incentives and higher drawback rates - Copper Strips/Earth Rods. The cargo declared for export was copper rods, but the actual cargo exported was copper strips. The mistake was due to a mix-up at the CFS gate. The exporter rectified the error with the authorities' guidance and re-imported the goods due to delays. Penalties imposed were deemed unjustified. No evidence of aiding or abetting was found against the second appellant. The lower authorities' actions lacked mala fide intent. The appeal was allowed, and the penalties on the second appellant were set aside.
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