Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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CESTAT upheld penalty imposed on customs broker under Regulation 18 of CBLR 2013 for mis-declaration of goods' weight in two bills of entry. The appellant contended lack of knowledge regarding importer's mis-declaration, arguing Regulation 11(d) cannot apply without broker's awareness. CESTAT rejected this defense, holding that customs brokers must exercise due diligence and prudence expected of reasonable persons. The regulation mandates brokers to advise clients on legal compliance and report non-compliance to customs authorities. The tribunal found broker failed to notice weight discrepancies in weighment slips during clearance process, constituting blameworthy conduct. Considering no disproportionate revenue loss and penalty's proportionality, CESTAT concluded the original authority's decision was neither arbitrary nor procedurally improper, dismissing the appeal.
CESTAT upheld penalty imposed on customs broker under Regulation 18 of CBLR 2013 for mis-declaration of goods' weight in two bills of entry. The appellant contended lack of knowledge regarding importer's mis-declaration, arguing Regulation 11(d) cannot apply without broker's awareness. CESTAT rejected this defense, holding that customs brokers must exercise due diligence and prudence expected of reasonable persons. The regulation mandates brokers to advise clients on legal compliance and report non-compliance to customs authorities. The tribunal found broker failed to notice weight discrepancies in weighment slips during clearance process, constituting blameworthy conduct. Considering no disproportionate revenue loss and penalty's proportionality, CESTAT concluded the original authority's decision was neither arbitrary nor procedurally improper, dismissing the appeal.
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