Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
ADG, DRI was held competent to extend the time for issuance of SCN under s.110(2) of the Customs Act because relevant notifications appointed ADG, DRI as Commissioner of Customs with all-India territorial jurisdiction; however, the extension order was quasi-judicial and, being non-speaking and unsupported by substantiated reasons (mere reference to the pandemic without showing necessity or post-extension investigation), it was found unsustainable. Non-mention of DIN did not, by itself, vitiate the extension order, as s.110 contains no express nullifying provision despite CBIC circulars. The customs broker and its director were not proved to be importer/beneficial owner or forgers; penalties under ss.112, 114A and 114AA were set aside and s.117 penalty reduced. Mis-declared goods violating Plant Quarantine norms were held liable to confiscation. - CESTAT
ADG, DRI was held competent to extend the time for issuance of SCN under s.110(2) of the Customs Act because relevant notifications appointed ADG, DRI as Commissioner of Customs with all-India territorial jurisdiction; however, the extension order was quasi-judicial and, being non-speaking and unsupported by substantiated reasons (mere reference to the pandemic without showing necessity or post-extension investigation), it was found unsustainable. Non-mention of DIN did not, by itself, vitiate the extension order, as s.110 contains no express nullifying provision despite CBIC circulars. The customs broker and its director were not proved to be importer/beneficial owner or forgers; penalties under ss.112, 114A and 114AA were set aside and s.117 penalty reduced. Mis-declared goods violating Plant Quarantine norms were held liable to confiscation. - CESTAT
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