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...
ITAT remitted issues to the AO/TPO, directing the assessee to substantiate selection of the foreign AE as tested party with requisite financial data; AO/TPO to examine whether the tested party yields a reliable ALP, afford the assessee hearing, and determine ALP for the trading of finished goods. Separate ALP exercises are directed for trading of raw materials/API with the AE as tested party; earlier comparable analyses may survive only if AO/TPO so finds. The Tribunal upheld treatment of capitalised R&D not shown amortised as operating expense and rejected inclusion of loss on sale/disposal of PPE in operating expenses, directing its exclusion. Overdue receivables from AE are held international transactions; notional interest to be computed by the TPO at LIBOR plus applicable markup in accordance with Rule 10CB.
ITAT remitted issues to the AO/TPO, directing the assessee to substantiate selection of the foreign AE as tested party with requisite financial data; AO/TPO to examine whether the tested party yields a reliable ALP, afford the assessee hearing, and determine ALP for the trading of finished goods. Separate ALP exercises are directed for trading of raw materials/API with the AE as tested party; earlier comparable analyses may survive only if AO/TPO so finds. The Tribunal upheld treatment of capitalised R&D not shown amortised as operating expense and rejected inclusion of loss on sale/disposal of PPE in operating expenses, directing its exclusion. Overdue receivables from AE are held international transactions; notional interest to be computed by the TPO at LIBOR plus applicable markup in accordance with Rule 10CB.
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