Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
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Integrated drive generators and starter generators imported for use with turboprop or turbofan engines were held classifiable under heading 8501, not heading 8511, because heading 8511 applies only to generators used with spark-ignition or compression-ignition internal combustion engines. Applying Rule 1 of the General Rules of Interpretation and the HSN notes, the Tribunal rejected the department's classification and accepted the importer's claim under heading 8501. It further held that a mere classification dispute did not justify the extended period of limitation or penalty under section 114A, absent collusion, wilful misstatement or suppression. The residuary penalty on the customs broker under section 117 was also set aside because it had acted on the importer's documents and instructions.
Integrated drive generators and starter generators imported for use with turboprop or turbofan engines were held classifiable under heading 8501, not heading 8511, because heading 8511 applies only to generators used with spark-ignition or compression-ignition internal combustion engines. Applying Rule 1 of the General Rules of Interpretation and the HSN notes, the Tribunal rejected the department's classification and accepted the importer's claim under heading 8501. It further held that a mere classification dispute did not justify the extended period of limitation or penalty under section 114A, absent collusion, wilful misstatement or suppression. The residuary penalty on the customs broker under section 117 was also set aside because it had acted on the importer's documents and instructions.
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