Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
The self-sealing facility granted to an eligible exporter or merchant exporter under the customs circulars carries no prescribed validity period and remains effective unless specifically withdrawn, suspended, or cancelled by the jurisdictional Customs authority for non-compliance, misuse, or another valid reason. Field formations are directed to administer the facility in a facilitative manner while maintaining necessary checks, and to take appropriate action, including withdrawal where warranted, against any misuse.
The self-sealing facility granted to an eligible exporter or merchant exporter under the customs circulars carries no prescribed validity period and remains effective unless specifically withdrawn, suspended, or cancelled by the jurisdictional Customs authority for non-compliance, misuse, or another valid reason. Field formations are directed to administer the facility in a facilitative manner while maintaining necessary checks, and to take appropriate action, including withdrawal where warranted, against any misuse.
Note: It is a system-generated summary and is for quick reference only.
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