SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Absolute confiscation of imported computer hard discs was set aside because the goods had already been redeemed on payment of fine and were unavailable for further redemption; the confiscation merits had attained finality. Reliance on Supreme Court precedent supporting redemption meant that a subsequent absolute-confiscation direction was non-est in law. Enhanced penalties on the importer and its business head were also set aside because the original penalties were proportionate to the offence and market value had not been determined to establish the profit margin. The adjudication order allowing redemption and imposing the original penalties was sustained.
Absolute confiscation of imported computer hard discs was set aside because the goods had already been redeemed on payment of fine and were unavailable for further redemption; the confiscation merits had attained finality. Reliance on Supreme Court precedent supporting redemption meant that a subsequent absolute-confiscation direction was non-est in law. Enhanced penalties on the importer and its business head were also set aside because the original penalties were proportionate to the offence and market value had not been determined to establish the profit margin. The adjudication order allowing redemption and imposing the original penalties was sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4897 
