Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Certain Export Oriented Units (EOUs) fraudulently obtained Advance Licences/Advance Release Orders (AROs) without actual manufacture or removal of excisable goods. They falsified records to show clearance of goods against these licences/AROs to fulfill export obligations, despite no physical movement of goods. The appellant, acting as an agent for purchase and sale of these licences/AROs, was not a party to the fraud committed by EOUs. Without knowledge of such fraud, the appellant cannot be penalized. The Tribunal, following its earlier decisions, set aside the penalties imposed on the appellant under relevant rules and acts for lack of culpable involvement in the fraudulent activities of EOUs.
Certain Export Oriented Units (EOUs) fraudulently obtained Advance Licences/Advance Release Orders (AROs) without actual manufacture or removal of excisable goods. They falsified records to show clearance of goods against these licences/AROs to fulfill export obligations, despite no physical movement of goods. The appellant, acting as an agent for purchase and sale of these licences/AROs, was not a party to the fraud committed by EOUs. Without knowledge of such fraud, the appellant cannot be penalized. The Tribunal, following its earlier decisions, set aside the penalties imposed on the appellant under relevant rules and acts for lack of culpable involvement in the fraudulent activities of EOUs.
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