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...
The CESTAT held that the imported 'JOSS Powder (Wood Powder for making incense sticks)' was correctly described by the appellant in the Bills of Entry under Chapter Heading 4405, though classified under the same. As there was no mis-declaration or suppression of facts, the extended period of limitation could not be invoked. Consequently, the appeal was allowed.
The CESTAT held that the imported 'JOSS Powder (Wood Powder for making incense sticks)' was correctly described by the appellant in the Bills of Entry under Chapter Heading 4405, though classified under the same. As there was no mis-declaration or suppression of facts, the extended period of limitation could not be invoked. Consequently, the appeal was allowed.
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