Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The Directorate of Revenue Intelligence uncovered a large-scale fraud involving undervaluation and misdeclaration in the import of luxury furniture, resulting in an estimated customs duty evasion of around Rs 30 crore. The scheme involved a network using dummy importers, local intermediaries, overseas shell companies, and fabricated invoices to declare branded luxury furniture as unbranded at significantly undervalued prices. Goods were shipped directly from European suppliers but invoiced through shell entities in jurisdictions like Dubai and Singapore. After customs clearance under false declarations, the furniture was transferred on paper to the actual beneficial owner, a prominent national luxury furniture brand, via intermediaries. Three individuals connected to the importer and intermediaries were arrested under the Customs Act for their complicity and conspiracy in executing the fraud.
The Directorate of Revenue Intelligence uncovered a large-scale fraud involving undervaluation and misdeclaration in the import of luxury furniture, resulting in an estimated customs duty evasion of around Rs 30 crore. The scheme involved a network using dummy importers, local intermediaries, overseas shell companies, and fabricated invoices to declare branded luxury furniture as unbranded at significantly undervalued prices. Goods were shipped directly from European suppliers but invoiced through shell entities in jurisdictions like Dubai and Singapore. After customs clearance under false declarations, the furniture was transferred on paper to the actual beneficial owner, a prominent national luxury furniture brand, via intermediaries. Three individuals connected to the importer and intermediaries were arrested under the Customs Act for their complicity and conspiracy in executing the fraud.
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