Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The ITAT held that the Transfer Pricing Officer (TPO) should consider comparables dealing in electronic products only, supported by a technical expert's certificate, while determining the arm's length price for the assessee, a 100% Export Oriented Unit (EOU). The Tribunal directed the TPO to apply filters of export turnover exceeding 75% of total turnover and related party transactions less than 25%. The assessee was also allowed to bring fresh comparables justifying its arm's length price determination, keeping in mind the prescribed filters. The issue of capacity utilization claim denial was remanded to the TPO for consideration while determining the arm's length price. Regarding the disallowance u/s 40A(a) for cash payments exceeding Rs. 20,000/-, the Assessing Officer was directed to examine the issue after providing adequate opportunity to the assessee. The appeals were allowed for statistical purposes with the above directions.
The ITAT held that the Transfer Pricing Officer (TPO) should consider comparables dealing in electronic products only, supported by a technical expert's certificate, while determining the arm's length price for the assessee, a 100% Export Oriented Unit (EOU). The Tribunal directed the TPO to apply filters of export turnover exceeding 75% of total turnover and related party transactions less than 25%. The assessee was also allowed to bring fresh comparables justifying its arm's length price determination, keeping in mind the prescribed filters. The issue of capacity utilization claim denial was remanded to the TPO for consideration while determining the arm's length price. Regarding the disallowance u/s 40A(a) for cash payments exceeding Rs. 20,000/-, the Assessing Officer was directed to examine the issue after providing adequate opportunity to the assessee. The appeals were allowed for statistical purposes with the above directions.
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