Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Penal liability under Sections 114(iii) and 114AA requires direct and concrete proof of knowing involvement in the fraudulent export activity; suspicion, assumption, or merely suggestive material is insufficient. The Tribunal found no evidence linking the appellant, who was not the Customs Broker for the exports, to the consignments or to any inflated valuation, and held that provision of contact details or documents to another person did not by itself establish a premeditated role in wrongful IGST refund facilitation. The penalties were set aside.
Penal liability under Sections 114(iii) and 114AA requires direct and concrete proof of knowing involvement in the fraudulent export activity; suspicion, assumption, or merely suggestive material is insufficient. The Tribunal found no evidence linking the appellant, who was not the Customs Broker for the exports, to the consignments or to any inflated valuation, and held that provision of contact details or documents to another person did not by itself establish a premeditated role in wrongful IGST refund facilitation. The penalties were set aside.
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