firm/company is invariably taken over by the newly
entity. The pending export obligation in respect of
various licences/authorisations issued to the acquired
firm ... respect of IEC of acquired entity,
licence(s)/Authorisation(s) with outstanding export obligation
should be directly amended by substituting the existing IEC
with
different
dates but he failed to join investigation. As per input, export remittances
amounting to ` 19 crores is still pending against him. In his statement ... petitioner has assured to provide the full details of
outstanding export remittances within a period of one week but he failed to
provide the same
drugs out of India and had also been
awarded an 'Outstanding Export Award' for the year 2009-10. The TPO in this
regard
share application money and also
transfer pricing adjustment in respect of outstanding export receivables but, allowed
partial relief in respect of additions made towards disallowance ... consideration from ground no. 2 is transfer
pricing adjustment on outstanding export receivables of Rs.9,53,074/-. The assessee,
during the year had outstanding
transaction not
realizing that the unrealized export proceeds are part and
parcel of international transaction on account of export sale.
5.3 That ... failed to appreciate the appellant
has not charged any interest on outstanding export
receivables to non AEs and therefore, transaction with
permission for extension of time up to 30.06.2013 for realizing the
outstanding export proceeds in respect of Export invoices amounting ... units, time allowed for
collection of export proceeds in India is 12 months from the date of export
and hence, it has to be seen
component of the loss thus pertained to open outstanding forward
contracts pertaining to appellant's export receivables.
10.3 From the audited accounts ... appellant in its books of account on restatement of outstanding forward contracts where underlying
was exports receivable, was allowable in computing assessee's business
receipt and outstanding amount of sale consideration
stand as under:
CHAMUNDA PHARMA MACHINERY PVT. LTD.
Details of Outstanding of export proceeds
Bank Bill No. Date
Credit and Term Loan facilities. He
says that the total outstanding in the Export
Packing Credit account ... provided the
petitioners pay the balance outstanding in the
Export Packing Credit account afore mentioned,
along with all applicable charges and interest
is paid, within
within SEZs and
made 3-5% value addition mandatory on all gold exports in July", it is inferred that
the value addition from Gold ... payments to be done for imports and to be received for
exports are outstanding.
19 In view of the above, the assessee has not been
