Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The HC granted the writ petition, directing provisional release of the impugned second-hand digital multifunction devices (MFDs) subject to conditions under the Customs Act, 1962. Relying on precedent that MFDs prima facie qualify as highly specialised equipment (HSEs) and are provisionally releasable, the court ordered the Customs authority at Chennai to pass orders for provisional release within four weeks and to release the goods within two weeks after the petitioner fulfils imposed conditions. The HC rejected the respondents' contention that the goods are conclusively restricted or prohibited at the provisional stage. The petition is disposed of.
The HC granted the writ petition, directing provisional release of the impugned second-hand digital multifunction devices (MFDs) subject to conditions under the Customs Act, 1962. Relying on precedent that MFDs prima facie qualify as highly specialised equipment (HSEs) and are provisionally releasable, the court ordered the Customs authority at Chennai to pass orders for provisional release within four weeks and to release the goods within two weeks after the petitioner fulfils imposed conditions. The HC rejected the respondents' contention that the goods are conclusively restricted or prohibited at the provisional stage. The petition is disposed of.
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