Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Transfer pricing adjustment on exports to foreign AEs was deleted because the tested-party selection and benchmarking method had already been accepted in the assessee's own earlier year. Section 41(1) additions for old creditors failed since remission or cessation was not proved and the balances were either paid or written back and offered to tax. Weighted deduction under section 35(2AB) was allowed despite absence of Form 3CL, and contract research income was to be reduced by expenditure, not gross receipts. Disallowance of common interest to tax holiday units was rejected where own funds were sufficient. Section 14A relief was upheld subject to the exempt-income ceiling, while excise duty exemption and specified export incentives were treated as capital receipts; some factual issues were remanded.
Transfer pricing adjustment on exports to foreign AEs was deleted because the tested-party selection and benchmarking method had already been accepted in the assessee's own earlier year. Section 41(1) additions for old creditors failed since remission or cessation was not proved and the balances were either paid or written back and offered to tax. Weighted deduction under section 35(2AB) was allowed despite absence of Form 3CL, and contract research income was to be reduced by expenditure, not gross receipts. Disallowance of common interest to tax holiday units was rejected where own funds were sufficient. Section 14A relief was upheld subject to the exempt-income ceiling, while excise duty exemption and specified export incentives were treated as capital receipts; some factual issues were remanded.
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