Cost-to-cost reimbursement of seconded employees is not service consideration; transfer-pricing markup was deleted and amalgamation amortisation allow...
Crystallisation of liability supports prior-period expense deduction, while functionally distinct divisions require separate transfer-pricing benchmar...
Functional comparability under TNMM requires transaction-specific FAR analysis before benchmarking business-support services provided to associated en...
Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Digital Axle Counters comprising rail contacts, electronic...
Tariff classification of Digital Axle Counters affirmed as electro-mechanical railway signalling equipment, eliminating duty, confiscation and penalty consequences.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Digital Axle Counters comprising rail contacts, electronic units, a central evaluator and a vital relay are classified as electro-mechanical railway signalling equipment under Customs Tariff Item 86080030, rather than electrical signalling equipment under Heading 8530. The vital relay's armature and contact operation is integral to interlocking and gives the integrated safety system its electro-mechanical character. Open disclosure of that classification in Bills of Entry, supporting material and assessment records precludes extended limitation without collusion, wilful misstatement or suppression intended to evade duty. Because the classification was correct and all material goods particulars were disclosed, duty, interest, confiscation, redemption fine and penalties on the importer and officers were set aside.
Digital Axle Counters comprising rail contacts, electronic units, a central evaluator and a vital relay are classified as electro-mechanical railway signalling equipment under Customs Tariff Item 86080030, rather than electrical signalling equipment under Heading 8530. The vital relay's armature and contact operation is integral to interlocking and gives the integrated safety system its electro-mechanical character. Open disclosure of that classification in Bills of Entry, supporting material and assessment records precludes extended limitation without collusion, wilful misstatement or suppression intended to evade duty. Because the classification was correct and all material goods particulars were disclosed, duty, interest, confiscation, redemption fine and penalties on the importer and officers were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
