Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
Under Rule 10(2), transport cost up to the place of importation had to be included in assessable value, so where imports were invoiced on ex-works basis the cost up to loading on board had first to be added to reach FOB value, and the 20% air-freight cap was to be computed with reference to that FOB value. The valuation objection therefore failed. However, extended limitation for short-levy required collusion, wilful misstatement or suppression of facts, and the same foundation was necessary for penalty under section 114A. The wrong declaration of ex-works price as FOB value was treated as an oversight, with no material showing intent to evade duty; accordingly, the demand raised only under the extended period and the penalties on the importer and customs broker were set aside.
Under Rule 10(2), transport cost up to the place of importation had to be included in assessable value, so where imports were invoiced on ex-works basis the cost up to loading on board had first to be added to reach FOB value, and the 20% air-freight cap was to be computed with reference to that FOB value. The valuation objection therefore failed. However, extended limitation for short-levy required collusion, wilful misstatement or suppression of facts, and the same foundation was necessary for penalty under section 114A. The wrong declaration of ex-works price as FOB value was treated as an oversight, with no material showing intent to evade duty; accordingly, the demand raised only under the extended period and the penalties on the importer and customs broker were set aside.
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