Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
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CESTAT reversed revocation of Customs Broker License, finding no violations of CBLR 2018. The tribunal held that the broker fulfilled obligations by verifying documents provided by importers, as law does not require brokers to investigate authenticity of official certificates or physically inspect pre-customs goods. No evidence supported allegations of forged Sri Lankan Certificates of Origin or broker's connivance in misdeclaring goods' origin. The retracted statement of the broker could not be sole basis for penalties without corroborating evidence. The tribunal emphasized that brokers operate based on supplied documents and cannot challenge certificates that even customs authorities must accept through prescribed procedures. Order revoking license, forfeiting security deposit, and imposing penalties was set aside.
CESTAT reversed revocation of Customs Broker License, finding no violations of CBLR 2018. The tribunal held that the broker fulfilled obligations by verifying documents provided by importers, as law does not require brokers to investigate authenticity of official certificates or physically inspect pre-customs goods. No evidence supported allegations of forged Sri Lankan Certificates of Origin or broker's connivance in misdeclaring goods' origin. The retracted statement of the broker could not be sole basis for penalties without corroborating evidence. The tribunal emphasized that brokers operate based on supplied documents and cannot challenge certificates that even customs authorities must accept through prescribed procedures. Order revoking license, forfeiting security deposit, and imposing penalties was set aside.
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