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...
Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome.
Reassessment of assessable value based solely on an empanelled Chartered Engineer certificate was held impermissible where the sequential valuation steps under the Customs Valuation Rules, 2007 and adequate market evidence were not followed; the enhanced value was set aside and the declared value accepted. Imports of restricted MFD parts were not subject to absolute confiscation where authorisation was lacking; redemption was allowed with a fine fixed at 10% and a penalty fixed at 5% of the assessable value. Earlier precedent rejecting engineer-certificate-only enhancement and permitting redemption governed the outcome.
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