Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The High Court held that seized gold ornaments must be returned forthwith as the Revenue failed to comply with Section 124 of the Act, which requires issuance of a show cause notice before confiscation. The petition was allowed, directing the Revenue to release the seized item to the petitioner immediately. The petitioner expressed desire to re-export the item, which shall be considered upon application in accordance with law.
The High Court held that seized gold ornaments must be returned forthwith as the Revenue failed to comply with Section 124 of the Act, which requires issuance of a show cause notice before confiscation. The petition was allowed, directing the Revenue to release the seized item to the petitioner immediately. The petitioner expressed desire to re-export the item, which shall be considered upon application in accordance with law.
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