Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The HC entertained a writ under Article 226, holding territorial jurisdiction proper and the challenge not premature in light of recent statutory amendments permitting appeals against determinations. The petition was heard despite the statutory appellate forum because CESTAT was non-functional, rendering the alternative remedy illusory. On merits the HC found procedural irregularity and breach of natural justice: the designated authority accepted confidentiality claims without requiring non-confidential summaries or adequate reasons, thereby denying opportunity to contest reliance on confidential material in violation of Rule 7(2). The HC quashed the final findings and the duty levy and remanded the matter to the designated authority for fresh consideration from the petitioner's response stage; any duties collected remain subject to the ultimate outcome.
The HC entertained a writ under Article 226, holding territorial jurisdiction proper and the challenge not premature in light of recent statutory amendments permitting appeals against determinations. The petition was heard despite the statutory appellate forum because CESTAT was non-functional, rendering the alternative remedy illusory. On merits the HC found procedural irregularity and breach of natural justice: the designated authority accepted confidentiality claims without requiring non-confidential summaries or adequate reasons, thereby denying opportunity to contest reliance on confidential material in violation of Rule 7(2). The HC quashed the final findings and the duty levy and remanded the matter to the designated authority for fresh consideration from the petitioner's response stage; any duties collected remain subject to the ultimate outcome.
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