Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The appellant imported pneumatic tyres without the mandatory Bureau of Indian Standards (BIS) markings, violating the provisions of the BIS Act and the Pneumatic Tyres and Tubes of Automatic Vehicles (Quality Control) Order, 2009. The imported tyres were held to be "prohibited goods" u/s 2(33) of the Customs Act, 1962, liable for confiscation u/s 111. The appellant also mis-declared the quantity, quality, and valuation of the imported goods. The Tribunal upheld the absolute confiscation of the goods, imposition of penalties u/ss 112(a)(i) and 114AA of the Customs Act, and rejected the appellant's plea for redemption of the goods, citing public safety concerns and the risk of the goods falling into unauthorized hands.
The appellant imported pneumatic tyres without the mandatory Bureau of Indian Standards (BIS) markings, violating the provisions of the BIS Act and the Pneumatic Tyres and Tubes of Automatic Vehicles (Quality Control) Order, 2009. The imported tyres were held to be "prohibited goods" u/s 2(33) of the Customs Act, 1962, liable for confiscation u/s 111. The appellant also mis-declared the quantity, quality, and valuation of the imported goods. The Tribunal upheld the absolute confiscation of the goods, imposition of penalties u/ss 112(a)(i) and 114AA of the Customs Act, and rejected the appellant's plea for redemption of the goods, citing public safety concerns and the risk of the goods falling into unauthorized hands.
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