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...
Refund of Special Additional Duty of Customs (SAD) being rejected due to mismatch in description of imported goods, non-compliance with Notification No. 102/2007-Cus. It highlights that rejection of the Chartered Accountant's certificate and reconciliation statement, as required by the Board's Circular, should be based on reliable incriminating documents, with reasons clearly spelled out. Minor mismatches in description or clerical errors do not invalidate the refund claim. The summary refers to relevant case laws, including a Larger Bench judgment of CESTAT and a Madras High Court judgment, which upheld that the adjudicating authority cannot disbelieve the CA's certificate without material evidence of fraud or misrepresentation. The impugned order rejecting the refund claims is set aside, and the appeal is allowed.
Refund of Special Additional Duty of Customs (SAD) being rejected due to mismatch in description of imported goods, non-compliance with Notification No. 102/2007-Cus. It highlights that rejection of the Chartered Accountant's certificate and reconciliation statement, as required by the Board's Circular, should be based on reliable incriminating documents, with reasons clearly spelled out. Minor mismatches in description or clerical errors do not invalidate the refund claim. The summary refers to relevant case laws, including a Larger Bench judgment of CESTAT and a Madras High Court judgment, which upheld that the adjudicating authority cannot disbelieve the CA's certificate without material evidence of fraud or misrepresentation. The impugned order rejecting the refund claims is set aside, and the appeal is allowed.
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