Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Section 11(6) of the VAT Act cannot be read as authorising a State to curtail reimbursement of tax on declared goods in a manner inconsistent with Article 286(3) of the Constitution and section 15(b) of the CST Act. The Gujarat HC, following Hides and Skin Owners Seva Mandal, treated Kadwani Forge Ltd. as sub silentio on transactions where goods purchased and sold were both declared goods. The notification was therefore upheld in general, but held inapplicable to declared goods such as coke bought within the State and resold in inter-State trade and commerce, requiring full input tax credit and rendering the show cause notice unsustainable.
Section 11(6) of the VAT Act cannot be read as authorising a State to curtail reimbursement of tax on declared goods in a manner inconsistent with Article 286(3) of the Constitution and section 15(b) of the CST Act. The Gujarat HC, following Hides and Skin Owners Seva Mandal, treated Kadwani Forge Ltd. as sub silentio on transactions where goods purchased and sold were both declared goods. The notification was therefore upheld in general, but held inapplicable to declared goods such as coke bought within the State and resold in inter-State trade and commerce, requiring full input tax credit and rendering the show cause notice unsustainable.
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