Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Custodians must notify importers or authorised Customs Brokers of the Section 49 storage facility where Customs-held goods are likely to remain uncleared beyond prescribed periods, and issue follow-up reminders if clearance remains pending. For delays arising from sample testing, statutory NOCs or discrepancies after open examination, the concerned Customs officer must similarly notify the importer. Custodians, CFSs, shipping lines, shipping agents and other cargo service providers must maintain communications and records. Failure to comply may be treated as breach of cargo-area regulatory obligations and attract action. The facility creates no automatic right to permission, waiver or relief, and does not alter disposal procedures for unclaimed or uncleared goods.
Custodians must notify importers or authorised Customs Brokers of the Section 49 storage facility where Customs-held goods are likely to remain uncleared beyond prescribed periods, and issue follow-up reminders if clearance remains pending. For delays arising from sample testing, statutory NOCs or discrepancies after open examination, the concerned Customs officer must similarly notify the importer. Custodians, CFSs, shipping lines, shipping agents and other cargo service providers must maintain communications and records. Failure to comply may be treated as breach of cargo-area regulatory obligations and attract action. The facility creates no automatic right to permission, waiver or relief, and does not alter disposal procedures for unclaimed or uncleared goods.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
