Transfer pricing comparables and adjustments: Tribunal revisits loss-maker status, segmental comparability, working capital relief, and risk allocatio...
Business expenditure disallowance failed where commission, related-party salary and promotion payments were supported by records and inquiry was inade...
Customs valuation was redetermined using the supplier's export declaration and accepted where the importer did not produce alternate purchase documentation; the Tribunal upheld the enhanced assessable value and differential duty. The record supported misdeclaration of goods, quantity and value, so confiscation of the imported goods was sustained. In mitigation, the redemption fine and one specified penalty were reduced while all other penalties were set aside. The summary addresses valuation, misdescription/misdeclaration, confiscation, and selective remission of fiscal penalties as the operative effects.
Customs valuation was redetermined using the supplier's export declaration and accepted where the importer did not produce alternate purchase documentation; the Tribunal upheld the enhanced assessable value and differential duty. The record supported misdeclaration of goods, quantity and value, so confiscation of the imported goods was sustained. In mitigation, the redemption fine and one specified penalty were reduced while all other penalties were set aside. The summary addresses valuation, misdescription/misdeclaration, confiscation, and selective remission of fiscal penalties as the operative effects.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
