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...
Customs law did not extend to fasten liability on a foreign exporter for pre-amendment transactions where the exporter was outside India and the relevant amendment to Section 1 operated only prospectively from 29 March 2018. The Act placed post-import compliance and responsibility on the Indian importer, and no legal basis was shown to make the foreign exporter answer for the importers' alleged misdeclaration. Penalties under Sections 112 and 114AA also failed because there was no evidence of any act, omission, abetment, false declaration, or other conduct by the petitioners that satisfied the statutory requirements. On that basis, the show-cause notices were quashed as without jurisdiction.
Customs law did not extend to fasten liability on a foreign exporter for pre-amendment transactions where the exporter was outside India and the relevant amendment to Section 1 operated only prospectively from 29 March 2018. The Act placed post-import compliance and responsibility on the Indian importer, and no legal basis was shown to make the foreign exporter answer for the importers' alleged misdeclaration. Penalties under Sections 112 and 114AA also failed because there was no evidence of any act, omission, abetment, false declaration, or other conduct by the petitioners that satisfied the statutory requirements. On that basis, the show-cause notices were quashed as without jurisdiction.
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