Transfer pricing adjustments for software services, corporate guarantees, expense characterisation and foreign tax credit affirmed under arm's length ...
Scientific Research approval for Sikshya O Anusandhan under section 35(1)(ii) granted subject to reporting, certification, and compliance requirements...
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.
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