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...
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Excise assessment of superior kerosene oil is determined by its form and exemption eligibility at factory removal. Kerosene cleared for sale through the Public Distribution System after satisfying exemption conditions does not become assessable at motor-spirit or high-speed-diesel rates merely because it later forms a pipeline interface beyond the refinery; an administrative circular cannot create liability contrary to governing provisions. The differential-duty demand on interface kerosene was therefore unsustainable. Extended limitation requires evidence of suppression or wilful misstatement with intent to evade duty; departmental ability to inquire and a bona fide belief defeated its use. Without such evidence, penalties against the entities and employee were not imposable.
Excise assessment of superior kerosene oil is determined by its form and exemption eligibility at factory removal. Kerosene cleared for sale through the Public Distribution System after satisfying exemption conditions does not become assessable at motor-spirit or high-speed-diesel rates merely because it later forms a pipeline interface beyond the refinery; an administrative circular cannot create liability contrary to governing provisions. The differential-duty demand on interface kerosene was therefore unsustainable. Extended limitation requires evidence of suppression or wilful misstatement with intent to evade duty; departmental ability to inquire and a bona fide belief defeated its use. Without such evidence, penalties against the entities and employee were not imposable.
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