Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
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FERA proceedings initiated based on show cause notice alleging misdeclaration of export goods value were dropped by Enforcement Directorate against assessee. Income tax additions made relying on documents seized during search, relating to subsequent years, were untenable as foundation of proceedings under 1961 Act stood nullified. Appellate Tribunal rightly held that no additions could be made in returned income for the year to which documents did not pertain, after FERA proceedings were quashed. No factual or legal infirmity in impugned orders.
FERA proceedings initiated based on show cause notice alleging misdeclaration of export goods value were dropped by Enforcement Directorate against assessee. Income tax additions made relying on documents seized during search, relating to subsequent years, were untenable as foundation of proceedings under 1961 Act stood nullified. Appellate Tribunal rightly held that no additions could be made in returned income for the year to which documents did not pertain, after FERA proceedings were quashed. No factual or legal infirmity in impugned orders.
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