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 Enforcement Directorate has filed a case against a Flipkart-backed e-commerce platform and its related entities for allegedly violating Foreign Direct Investment (FDI) regulations by engaging in multi-brand retail trade under the guise of wholesale cash and carry, involving over Rs 1,654 crore. The agency found that the company received FDI while operating an inventory-based model, which is prohibited under current FDI policy that only permits marketplace models. The company sold most goods to a related entity, which then retailed to customers, effectively converting B2C transactions into B2B and then B2C, contravening the limit allowing only 25% sales to group companies. These actions are alleged to breach provisions of the Foreign Exchange Management Act and FDI guidelines. The accused entities have denied wrongdoing and stated their commitment to legal compliance and cooperation with authorities.
The Enforcement Directorate has filed a case against a Flipkart-backed e-commerce platform and its related entities for allegedly violating Foreign Direct Investment (FDI) regulations by engaging in multi-brand retail trade under the guise of wholesale cash and carry, involving over Rs 1,654 crore. The agency found that the company received FDI while operating an inventory-based model, which is prohibited under current FDI policy that only permits marketplace models. The company sold most goods to a related entity, which then retailed to customers, effectively converting B2C transactions into B2B and then B2C, contravening the limit allowing only 25% sales to group companies. These actions are alleged to breach provisions of the Foreign Exchange Management Act and FDI guidelines. The accused entities have denied wrongdoing and stated their commitment to legal compliance and cooperation with authorities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
