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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The trade authority amended Para 4.84(b) of the Handbook of Procedures 2023 to clarify export obligation timelines: exporters must fulfil obligations within 120 days from import of each consignment under an authorisation, except that for findings and mountings of gold, platinum and silver and for jewellery the period is 180 days; extensions remain barred. The revision removes language permitting post-export replenishment imports of gold and is stated to align Para 4.84(b) with Para 4.36(a) of the Foreign Trade Policy.
The trade authority amended Para 4.84(b) of the Handbook of Procedures 2023 to clarify export obligation timelines: exporters must fulfil obligations within 120 days from import of each consignment under an authorisation, except that for findings and mountings of gold, platinum and silver and for jewellery the period is 180 days; extensions remain barred. The revision removes language permitting post-export replenishment imports of gold and is stated to align Para 4.84(b) with Para 4.36(a) of the Foreign Trade Policy.
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