Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
SC rejected the petition challenging the show cause notice under Section 124 of the Customs Act, 1962 regarding pharmaceutical raw materials export. The Court directed the DGFT to review the petitioner's representations and make an appropriate determination. The authority was instructed to proceed with adjudication after DGFT's decision. The court found the show cause notice process appeared procedurally valid, with no substantive response provided by the petitioner. The petition was disposed of, effectively allowing administrative reconsideration of the classification and export documentation.
SC rejected the petition challenging the show cause notice under Section 124 of the Customs Act, 1962 regarding pharmaceutical raw materials export. The Court directed the DGFT to review the petitioner's representations and make an appropriate determination. The authority was instructed to proceed with adjudication after DGFT's decision. The court found the show cause notice process appeared procedurally valid, with no substantive response provided by the petitioner. The petition was disposed of, effectively allowing administrative reconsideration of the classification and export documentation.
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