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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IGST exemption at the time of import of input materials by the appellant - Advance Authorization Scheme - The Tribunal acknowledged that while the Advance Authorization was initially issued under Notification No. 18/2005, it was subsequently revised to Notification No. 21/2015. However, considering the appellant's use of the imported goods for manufacturing final products that were exported, and the issuance of discharge certificates by the DGFT confirming export obligations, the Tribunal concluded that the appellant should be entitled to the benefit under Notification No. 18/2015–CUS. Additionally, it noted the contributory negligence on the part of Revenue for allowing IGST exemption under Notification No. 18/2015–CUS. Consequently, the Tribunal held that the demand for IGST exemption was not sustainable.
IGST exemption at the time of import of input materials by the appellant - Advance Authorization Scheme - The Tribunal acknowledged that while the Advance Authorization was initially issued under Notification No. 18/2005, it was subsequently revised to Notification No. 21/2015. However, considering the appellant's use of the imported goods for manufacturing final products that were exported, and the issuance of discharge certificates by the DGFT confirming export obligations, the Tribunal concluded that the appellant should be entitled to the benefit under Notification No. 18/2015–CUS. Additionally, it noted the contributory negligence on the part of Revenue for allowing IGST exemption under Notification No. 18/2015–CUS. Consequently, the Tribunal held that the demand for IGST exemption was not sustainable.
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