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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Recovery of wrongly utilized credit - utilization of Cenvat Credit availed on Basic Excise Duty (BED) for payment of EC and SHEC - Period between April 2013 and January 2014 - The tribunal found that the EC and SHEC, while not traditionally excise duties under the Central Excise Act, are considered excise duties when it comes to the utilization of Cenvat Credit for payment. The tribunal followed the pivotal case of M/s. Vedanta Ltd. vs CCE, where it was held that EC and SHEC could be treated as excise duties for the purpose of CENVAT credit utilization.
Recovery of wrongly utilized credit - utilization of Cenvat Credit availed on Basic Excise Duty (BED) for payment of EC and SHEC - Period between April 2013 and January 2014 - The tribunal found that the EC and SHEC, while not traditionally excise duties under the Central Excise Act, are considered excise duties when it comes to the utilization of Cenvat Credit for payment. The tribunal followed the pivotal case of M/s. Vedanta Ltd. vs CCE, where it was held that EC and SHEC could be treated as excise duties for the purpose of CENVAT credit utilization.
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