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...
CESTAT upheld the impugned Order-in-Original revoking the suspension of the customs broker licence, dismissing the appeal. The Tribunal found the adjudicating authority had duly considered the allegations in the SCN under CBLR, 2013 and had not acted without appreciation of the purported enormity of the offence. The appellant's contention that the revocation should have awaited the outcome of an inquiry was rejected as unsustainable, given the statutory timelines for issuance of SCN, appointment of an inquiry officer and disposal of proceedings under CBLR. There being no material to vitiate the impugned order, the appeal was dismissed and the revocation upheld.
CESTAT upheld the impugned Order-in-Original revoking the suspension of the customs broker licence, dismissing the appeal. The Tribunal found the adjudicating authority had duly considered the allegations in the SCN under CBLR, 2013 and had not acted without appreciation of the purported enormity of the offence. The appellant's contention that the revocation should have awaited the outcome of an inquiry was rejected as unsustainable, given the statutory timelines for issuance of SCN, appointment of an inquiry officer and disposal of proceedings under CBLR. There being no material to vitiate the impugned order, the appeal was dismissed and the revocation upheld.
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TaxTMI 
TaxTMI 
of 4918 
