Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
The HC set aside the impugned penalty order against the petitioner, an Executive Director in a public limited company, finding no merit in the respondents' contentions. The orders failed to establish the petitioner's personal liability for the company's defaults under the FTDR Act regarding non-fulfilment of export obligations. The HC held that the show-cause notice and OIO did not provide reasoning for fastening liability on the petitioner, violating principles of natural justice. The petitioner's involvement was limited to signing a power-of-attorney on behalf of the company pursuant to a board resolution.
The HC set aside the impugned penalty order against the petitioner, an Executive Director in a public limited company, finding no merit in the respondents' contentions. The orders failed to establish the petitioner's personal liability for the company's defaults under the FTDR Act regarding non-fulfilment of export obligations. The HC held that the show-cause notice and OIO did not provide reasoning for fastening liability on the petitioner, violating principles of natural justice. The petitioner's involvement was limited to signing a power-of-attorney on behalf of the company pursuant to a board resolution.
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