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...
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The second proviso to Section 46(3) was applied as a discretionary power, so late fee on delayed supplementary Bills of Entry was not to be levied mechanically in every case. Where the original Bills of Entry had been filed in time, the excess cargo later detected formed part of the same consignments, and the delay was not attributable to the appellant, waiver was justified. The Tribunal also noted the Board circular and departmental SOP requiring charges, fines and penalties to be imposed judiciously, and followed Blueleaf Trading Company as directly applicable. The impugned orders were set aside to the extent of late fee, and consequential relief was granted.
The second proviso to Section 46(3) was applied as a discretionary power, so late fee on delayed supplementary Bills of Entry was not to be levied mechanically in every case. Where the original Bills of Entry had been filed in time, the excess cargo later detected formed part of the same consignments, and the delay was not attributable to the appellant, waiver was justified. The Tribunal also noted the Board circular and departmental SOP requiring charges, fines and penalties to be imposed judiciously, and followed Blueleaf Trading Company as directly applicable. The impugned orders were set aside to the extent of late fee, and consequential relief was granted.
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