Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Classification of goods - rate of tax - Classic Malabar Parota - Whole Wheat Malabar Parota - The court determined that the Malabar Parotas should not be classified under the heading 2106 as they are not akin to the other food preparations specified therein, which typically include items requiring more substantial processing. - The court highlighted that the 'bread' definition in the GST regime should be broadly interpreted to include varieties of bread prevalent in different cultures, including Indian flatbreads. - Ultimately, the court held that since Malabar Parotas are akin to items specified under tariff item 1905 9090, they should attract a GST of 5% (2.5% CGST + 2.5% SGST), as they are similar to products like Khakhra, plain chapati, or roti, which are also covered under this entry.
Classification of goods - rate of tax - Classic Malabar Parota - Whole Wheat Malabar Parota - The court determined that the Malabar Parotas should not be classified under the heading 2106 as they are not akin to the other food preparations specified therein, which typically include items requiring more substantial processing. - The court highlighted that the 'bread' definition in the GST regime should be broadly interpreted to include varieties of bread prevalent in different cultures, including Indian flatbreads. - Ultimately, the court held that since Malabar Parotas are akin to items specified under tariff item 1905 9090, they should attract a GST of 5% (2.5% CGST + 2.5% SGST), as they are similar to products like Khakhra, plain chapati, or roti, which are also covered under this entry.
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