Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Page of 4794
Press 'Enter' after typing page number.
321 to 340 of 95875 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
CESTAT reiterated that the extended period of limitation could not be invoked where the department already knew of the exports and MEIS benefit claims from an earlier show cause notice on the same products and period; suppression and wilful misstatement were therefore not made out. It also held that customs could not deny or recover MEIS benefits while the scrips remained uncancelled, since DGFT had not completed cancellation proceedings. On both limitation and merits, the impugned demand and recovery action were unsustainable, and the appeal was allowed with consequential relief.
CESTAT reiterated that the extended period of limitation could not be invoked where the department already knew of the exports and MEIS benefit claims from an earlier show cause notice on the same products and period; suppression and wilful misstatement were therefore not made out. It also held that customs could not deny or recover MEIS benefits while the scrips remained uncancelled, since DGFT had not completed cancellation proceedings. On both limitation and merits, the impugned demand and recovery action were unsustainable, and the appeal was allowed with consequential relief.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
