Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
The HC partly allowed the appeal, holding that the Tribunal erred in upholding an ALP fixed by equating a corporate guarantee with bank guarantee fees; the Tribunal's reliance on average bank guarantee commissions was set aside and the matter remanded to the Tribunal for fresh adjudication, with directions to consider safe harbour principles and relevant precedent. The HC affirmed the Tribunal's conclusion under s.92B that deferred export receivables may attract transfer pricing adjustment. As to s.14A disallowance, the HC held the assessing officer must first establish applicability of s.14A before invoking Rule 8D(2), and remanded the issue for reconsideration in light of the assessee's audited financials.
The HC partly allowed the appeal, holding that the Tribunal erred in upholding an ALP fixed by equating a corporate guarantee with bank guarantee fees; the Tribunal's reliance on average bank guarantee commissions was set aside and the matter remanded to the Tribunal for fresh adjudication, with directions to consider safe harbour principles and relevant precedent. The HC affirmed the Tribunal's conclusion under s.92B that deferred export receivables may attract transfer pricing adjustment. As to s.14A disallowance, the HC held the assessing officer must first establish applicability of s.14A before invoking Rule 8D(2), and remanded the issue for reconsideration in light of the assessee's audited financials.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
