Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
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Where imported goods are supported by Certificates of Origin issued by the designated authority of the exporting country, any reasonable doubt about authenticity or origin particulars must be addressed through the retroactive verification mechanism under Rule 15 of Annexure B to the Interim Rules of Origin. If the importing authority questions the value addition shown in the certificate, it must seek verification from the issuing authority in Thailand rather than rely only on domestic statements or collected material. Because the prescribed verification procedure was not followed, the notice and the order denying preferential tariff concession were contrary to the Rules, and the exemption denial, consequential demands and penalties were set aside.
Where imported goods are supported by Certificates of Origin issued by the designated authority of the exporting country, any reasonable doubt about authenticity or origin particulars must be addressed through the retroactive verification mechanism under Rule 15 of Annexure B to the Interim Rules of Origin. If the importing authority questions the value addition shown in the certificate, it must seek verification from the issuing authority in Thailand rather than rely only on domestic statements or collected material. Because the prescribed verification procedure was not followed, the notice and the order denying preferential tariff concession were contrary to the Rules, and the exemption denial, consequential demands and penalties were set aside.
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