Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Section 112(a) and 112(b) were held to cover both abetment or omission rendering goods liable to confiscation and possession or dealing with goods known or believed to be liable to confiscation, so the show-cause notice was valid where it specified the petitioner's role in smuggling gold paste without declaration. The Court rejected the objection based on non-specification of the precise clause, holding that the notice gave adequate particulars and was answered on merits. Smuggled gold imported in breach of customs restrictions was treated as prohibited goods, so penalty under Section 112(i) was also sustained. The writ petition was dismissed and the penalty order upheld.
Section 112(a) and 112(b) were held to cover both abetment or omission rendering goods liable to confiscation and possession or dealing with goods known or believed to be liable to confiscation, so the show-cause notice was valid where it specified the petitioner's role in smuggling gold paste without declaration. The Court rejected the objection based on non-specification of the precise clause, holding that the notice gave adequate particulars and was answered on merits. Smuggled gold imported in breach of customs restrictions was treated as prohibited goods, so penalty under Section 112(i) was also sustained. The writ petition was dismissed and the penalty order upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
