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...
CESTAT adjudicated a customs dispute involving 37.34 kg of saffron, finding procedural irregularities in stock verification. The tribunal rejected confiscation based on balance sheet assumptions, emphasizing the need for physical stock records. While identifying lapses in stock maintenance by the appellant, the tribunal partially modified penalties. The order reduced penalties under Sections 114A and 112(b)(ii), imposing a token penalty of Rs. 50,000 under Section 117 for improper record-keeping. The tribunal ultimately held that stock verification must rely on actual physical records rather than presumptive calculations, thereby partially allowing the appellant's challenge to the original customs order.
CESTAT adjudicated a customs dispute involving 37.34 kg of saffron, finding procedural irregularities in stock verification. The tribunal rejected confiscation based on balance sheet assumptions, emphasizing the need for physical stock records. While identifying lapses in stock maintenance by the appellant, the tribunal partially modified penalties. The order reduced penalties under Sections 114A and 112(b)(ii), imposing a token penalty of Rs. 50,000 under Section 117 for improper record-keeping. The tribunal ultimately held that stock verification must rely on actual physical records rather than presumptive calculations, thereby partially allowing the appellant's challenge to the original customs order.
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