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...
Penalty under Section 112(a)(i) could not be sustained where tea was imported bona fide for processing and re-export, supported by health and phytosanitary certificates, and there was no misdeclaration in quantity or description. The viable seeds were detected only on testing by Plant Quarantine authorities, and the Tribunal found no wilful intent or mens rea to import prohibited goods. On that basis, the penalty was set aside and the appeal allowed.
Penalty under Section 112(a)(i) could not be sustained where tea was imported bona fide for processing and re-export, supported by health and phytosanitary certificates, and there was no misdeclaration in quantity or description. The viable seeds were detected only on testing by Plant Quarantine authorities, and the Tribunal found no wilful intent or mens rea to import prohibited goods. On that basis, the penalty was set aside and the appeal allowed.
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