https://www.taxtmi.com/caselaws?id=457901 Lower prices in other imports do not by themselves prove over-invoicing where the contractual and commercial terms are materially different, including export obligations, brand value, prior market registration and value-addition requirements. The invoice price agreed between the importer and foreign supplier therefore cannot be rejected merely on comparison with unrelated transactions. Where foreign exchange is sanctioned against an advance licence and remitted directly by the authorised dealer to the foreign seller for the disclosed import price, it is treated as having been acquired and utilised for that sanctioned purpose, so no contravention arises under section 8(3) read with section 8(4) of FERA. en-us Tue, 09 May 1995 00:00:00 +0530 Mon, 30 Sep 2024 16:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457901 Lower prices in other imports do not by themselves prove over-invoicing where the contractual and commercial terms are materially different, including export obligations, brand value, prior market registration and value-addition requirements. The invoice price agreed between the importer and foreign supplier therefore cannot be rejected merely on comparison with unrelated transactions. Where foreign exchange is sanctioned against an advance licence and remitted directly by the authorised dealer to the foreign seller for the disclosed import price, it is treated as having been acquired and utilised for that sanctioned purpose, so no contravention arises under section 8(3) read with section 8(4) of FERA. Case-Laws FEMA Tue, 09 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457901