Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The ITAT dismissed Revenue's appeal, holding that penalty under s.271G for failure to furnish transfer pricing documentation cannot be levied against the German resident taxpayer. The Tribunal relied on the Procter & Gamble Home Products precedent, which established that s.271G penalties require specific defects to be identified in the documents submitted under s.92D. Since no notice under s.92D(3) was issued requiring the taxpayer to furnish information regarding its international transactions-a prerequisite for initiating s.271G penalty proceedings-the ITAT concluded that the penalty was improperly imposed and upheld the taxpayer's position.
The ITAT dismissed Revenue's appeal, holding that penalty under s.271G for failure to furnish transfer pricing documentation cannot be levied against the German resident taxpayer. The Tribunal relied on the Procter & Gamble Home Products precedent, which established that s.271G penalties require specific defects to be identified in the documents submitted under s.92D. Since no notice under s.92D(3) was issued requiring the taxpayer to furnish information regarding its international transactions-a prerequisite for initiating s.271G penalty proceedings-the ITAT concluded that the penalty was improperly imposed and upheld the taxpayer's position.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
