Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
Page of 4813
Press 'Enter' after typing page number.
2141 to 2160 of 96257 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Interpretation of the phrase "reason to believe" u/s 110 of the Customs Act, which is a crucial safeguard for authorizing officers to conduct searches. The court examined the legal principles governing "reason to believe," emphasizing that it cannot be arbitrary, capricious, or whimsical, and must be based on material evidence. The officer must independently apply their mind and not merely reproduce statutory words mechanically. The reasons must be self-explanatory and cannot be supported by extraneous material. In the present case, the suspected opinion of local traders that the seized dried areca nuts were of foreign origin was deemed unreliable and unacceptable, as their origin could not be conclusively determined by mere visual inspection. The court held that the seizure memo lacked valid reasons and set it aside, discharging the bank guarantee and ordering the release of the seized goods within three months.
Interpretation of the phrase "reason to believe" u/s 110 of the Customs Act, which is a crucial safeguard for authorizing officers to conduct searches. The court examined the legal principles governing "reason to believe," emphasizing that it cannot be arbitrary, capricious, or whimsical, and must be based on material evidence. The officer must independently apply their mind and not merely reproduce statutory words mechanically. The reasons must be self-explanatory and cannot be supported by extraneous material. In the present case, the suspected opinion of local traders that the seized dried areca nuts were of foreign origin was deemed unreliable and unacceptable, as their origin could not be conclusively determined by mere visual inspection. The court held that the seizure memo lacked valid reasons and set it aside, discharging the bank guarantee and ordering the release of the seized goods within three months.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4813 
Join Channel 
