Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Proceedings under FEMA were not barred by Section 127J of the Customs Act because FEMA is a self-contained code and action could rest on independent evidence, but the Commissioner's reliance on hearsay statements was unsustainable. The Tribunal found that the overseas commission was paid by the foreign buyer to an overseas agent, not by the exporter, and there was no material that the exporter was liable to pay it or had claimed it in export documents. On that factual basis, the amount was neither part of the export value nor foreign exchange due or accrued to the exporter, so no contravention of FEMA, the RBI circular, or the export regulations was made out. Penalties were set aside.
Proceedings under FEMA were not barred by Section 127J of the Customs Act because FEMA is a self-contained code and action could rest on independent evidence, but the Commissioner's reliance on hearsay statements was unsustainable. The Tribunal found that the overseas commission was paid by the foreign buyer to an overseas agent, not by the exporter, and there was no material that the exporter was liable to pay it or had claimed it in export documents. On that factual basis, the amount was neither part of the export value nor foreign exchange due or accrued to the exporter, so no contravention of FEMA, the RBI circular, or the export regulations was made out. Penalties were set aside.
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