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 CESTAT held that the CB did not violate Regulations 10(d), 10(e), and 10(f) of CBLR, 2018. Drawing analogy from a previous case, the Tribunal stated that the CB cannot be held liable for the exporter's actions unless there is clear evidence of the broker's involvement in the alleged misconduct. The Delhi HC had also ruled that a CB is not an expert in identifying misdeclaration of goods. Consequently, the revocation of the CB's license, forfeiture of security deposit, and imposition of penalty were set aside, allowing the appeal.
The CESTAT held that the CB did not violate Regulations 10(d), 10(e), and 10(f) of CBLR, 2018. Drawing analogy from a previous case, the Tribunal stated that the CB cannot be held liable for the exporter's actions unless there is clear evidence of the broker's involvement in the alleged misconduct. The Delhi HC had also ruled that a CB is not an expert in identifying misdeclaration of goods. Consequently, the revocation of the CB's license, forfeiture of security deposit, and imposition of penalty were set aside, allowing the appeal.
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