Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Importation of an old and used car by misdeclaring it as new, resulting in undervaluation. Imposition of composite penalty u/ss 112(a), 112(b), and 114AA of the Customs Act, 1962. Penalty u/s 114AA cannot be imposed as it pertains to fraudulent exports, not imports. Quantum of penalties imposed u/ss 112(a) and 112(b) unknown. Composite penalties imposed on the appellant found unsustainable. Impugned orders imposing penalties under various provisions of the Customs Act, 1962 set aside by the Appellate Tribunal (CESTAT). Appeal allowed.
Importation of an old and used car by misdeclaring it as new, resulting in undervaluation. Imposition of composite penalty u/ss 112(a), 112(b), and 114AA of the Customs Act, 1962. Penalty u/s 114AA cannot be imposed as it pertains to fraudulent exports, not imports. Quantum of penalties imposed u/ss 112(a) and 112(b) unknown. Composite penalties imposed on the appellant found unsustainable. Impugned orders imposing penalties under various provisions of the Customs Act, 1962 set aside by the Appellate Tribunal (CESTAT). Appeal allowed.
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