Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal and set aside the impugned order revoking the customs broker's license, forfeiting the security deposit, and imposing penalty. The Tribunal held that the alleged breaches of regulations 10(d), 10(e), 10(f), and 10(n) of the Customs Brokers Licensing Regulations, 2018, were not established. The allegations pertained to the export of overvalued goods to claim ineligible drawback, supported by fake bills from purported buyers instead of actual suppliers. However, the Tribunal ruled that the customs broker's actions before filing the shipping bill did not fall within the purview of the licensed activities. Additionally, there was no evidence of providing incorrect information leading to the exporter's breach or failure to verify the client's credentials as alleged.
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal and set aside the impugned order revoking the customs broker's license, forfeiting the security deposit, and imposing penalty. The Tribunal held that the alleged breaches of regulations 10(d), 10(e), 10(f), and 10(n) of the Customs Brokers Licensing Regulations, 2018, were not established. The allegations pertained to the export of overvalued goods to claim ineligible drawback, supported by fake bills from purported buyers instead of actual suppliers. However, the Tribunal ruled that the customs broker's actions before filing the shipping bill did not fall within the purview of the licensed activities. Additionally, there was no evidence of providing incorrect information leading to the exporter's breach or failure to verify the client's credentials as alleged.
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