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...
The court examined the invocation of the extraordinary remedy under Article 226 of the Constitution of India concerning the seizure of goods and the adjudication order. The foundational aspect of "reason to believe" for seizure and initiation of proceedings was found to be absent. The seizure was based on the belief of illegal import, while the adjudication proceeded on the allegation of illegal export, leading to a clear lack of jurisdiction. The denial of cross-examination of the seizing officer violated the principles of natural justice. These factors justified invoking the extraordinary remedy under Article 226. Consequently, the High Court allowed the writ petition and set aside the impugned order.
The court examined the invocation of the extraordinary remedy under Article 226 of the Constitution of India concerning the seizure of goods and the adjudication order. The foundational aspect of "reason to believe" for seizure and initiation of proceedings was found to be absent. The seizure was based on the belief of illegal import, while the adjudication proceeded on the allegation of illegal export, leading to a clear lack of jurisdiction. The denial of cross-examination of the seizing officer violated the principles of natural justice. These factors justified invoking the extraordinary remedy under Article 226. Consequently, the High Court allowed the writ petition and set aside the impugned order.
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