Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
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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