Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The case pertains to the assessment of duty on a vessel and its ship stores during import. The key points are: freight, either actual or at 20% of FOB value, was required to be added to the value of the vessel for discharging duty at the time of import. A common bill of entry was filed for payment of duty on the vessel and the total quantum of ship stores ascertained by customs officers upon entry. The assessing authority correctly deducted the duty involved in ship stores consumed during the voyage while finalizing the bill of entry after the coastal run. The inclusion of freight is covered by a previous CESTAT Mumbai judgment in Sachin Kshirsagar's case, which held that the Commissioner (Appeals)' contention to include freight is not legally correct. The Adjudicating Authority's order is upheld as there is no infirmity found.
The case pertains to the assessment of duty on a vessel and its ship stores during import. The key points are: freight, either actual or at 20% of FOB value, was required to be added to the value of the vessel for discharging duty at the time of import. A common bill of entry was filed for payment of duty on the vessel and the total quantum of ship stores ascertained by customs officers upon entry. The assessing authority correctly deducted the duty involved in ship stores consumed during the voyage while finalizing the bill of entry after the coastal run. The inclusion of freight is covered by a previous CESTAT Mumbai judgment in Sachin Kshirsagar's case, which held that the Commissioner (Appeals)' contention to include freight is not legally correct. The Adjudicating Authority's order is upheld as there is no infirmity found.
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