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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
CESTAT allowed the appeal, setting aside the Principal Commissioner's order dated 29.05.2019. The tribunal found lack of jurisdiction in invoking section 28AAA without DGFT cancellation of the export instrument. The evidence relied upon was deemed inadmissible, specifically statements under section 108 of the Customs Act. Penalties under sections 114AA and 114(iii) were invalidated as the title of goods passed upon Let Export Order, and no conclusive proof of intentional misconduct was established. The tribunal emphasized that customs authorities cannot unilaterally challenge an export instrument without DGFT's formal cancellation proceedings.
CESTAT allowed the appeal, setting aside the Principal Commissioner's order dated 29.05.2019. The tribunal found lack of jurisdiction in invoking section 28AAA without DGFT cancellation of the export instrument. The evidence relied upon was deemed inadmissible, specifically statements under section 108 of the Customs Act. Penalties under sections 114AA and 114(iii) were invalidated as the title of goods passed upon Let Export Order, and no conclusive proof of intentional misconduct was established. The tribunal emphasized that customs authorities cannot unilaterally challenge an export instrument without DGFT's formal cancellation proceedings.
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