Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The High Court dismissed the appeal filed by the Customs broker challenging the revocation of license and forfeiture of security deposit by the Customs authorities. The court held that the power to suspend and revoke the license are distinct under the Customs Brokers Licensing Regulations, 2018. The 90-day timeline for initiating revocation proceedings applies from the date of the offence report, not the preliminary enquiry for suspension. Although the revocation notice was issued beyond 90 days from the preliminary enquiry, it was within the permissible period from the offence report date. The broker's consistent violations of verifying exporter details under Regulation 10(n) justified the revocation, despite the Tribunal's order being improper. No substantial question of law arose for consideration.
The High Court dismissed the appeal filed by the Customs broker challenging the revocation of license and forfeiture of security deposit by the Customs authorities. The court held that the power to suspend and revoke the license are distinct under the Customs Brokers Licensing Regulations, 2018. The 90-day timeline for initiating revocation proceedings applies from the date of the offence report, not the preliminary enquiry for suspension. Although the revocation notice was issued beyond 90 days from the preliminary enquiry, it was within the permissible period from the offence report date. The broker's consistent violations of verifying exporter details under Regulation 10(n) justified the revocation, despite the Tribunal's order being improper. No substantial question of law arose for consideration.
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