Transfer pricing comparability under TNMM: foreign exchange loss on ECB excluded from operating cost, and a functionally dissimilar comparator removed...
Fake AI-generated precedents vitiate adjudication, with unverified citations contaminating the decision-making process and undermining the rule of law...
CESTAT upheld classification of the imported goods as crystalline limestone rather than marble, accepting the Geological Survey of India report as a reliable technical opinion and holding that dictionary meanings could not override expert scientific evidence. It distinguished prior marble decisions on their facts and found that the advance licence and Notification No. 203/92 exemption, which applied to marble, was correctly denied. The Tribunal also found clear misdeclaration in both description and quantity, since the goods were not as declared and excess quantity was detected on first check. Confiscation, redemption fine and penalties were therefore justified and affirmed.
CESTAT upheld classification of the imported goods as crystalline limestone rather than marble, accepting the Geological Survey of India report as a reliable technical opinion and holding that dictionary meanings could not override expert scientific evidence. It distinguished prior marble decisions on their facts and found that the advance licence and Notification No. 203/92 exemption, which applied to marble, was correctly denied. The Tribunal also found clear misdeclaration in both description and quantity, since the goods were not as declared and excess quantity was detected on first check. Confiscation, redemption fine and penalties were therefore justified and affirmed.
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