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...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Allegations of clandestine removal of polished vitrified tiles and evasion of duty were primarily based on private documents/records recovered from premises of M/s K.N. Brothers/Shree Ambaji Enterprises, Shroff, and office of Shri Pravin Shirvi, Broker/middlemen. CESTAT held that opportunity of cross-examination was not provided, violating principles of natural justice. Reliability of statements was doubtful as there were discrepancies in amounts mentioned. Cross-examination of witnesses is mandatory u/s 9D of the Act. Untested statements of third parties cannot be sole basis for adverse conclusion against assessee. Positive and tangible evidence is required to establish clandestine removal, not assumptions and presumptions. Entire demand was theoretical and theoretical. Impugned order set aside and appeal allowed.
Allegations of clandestine removal of polished vitrified tiles and evasion of duty were primarily based on private documents/records recovered from premises of M/s K.N. Brothers/Shree Ambaji Enterprises, Shroff, and office of Shri Pravin Shirvi, Broker/middlemen. CESTAT held that opportunity of cross-examination was not provided, violating principles of natural justice. Reliability of statements was doubtful as there were discrepancies in amounts mentioned. Cross-examination of witnesses is mandatory u/s 9D of the Act. Untested statements of third parties cannot be sole basis for adverse conclusion against assessee. Positive and tangible evidence is required to establish clandestine removal, not assumptions and presumptions. Entire demand was theoretical and theoretical. Impugned order set aside and appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
