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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Levy of penalty for abetting in mis-declaration of imported goods - Revocation of Courier License - The tribunal ruled that penalty under this section could only be imposed if no express penalty was provided elsewhere for the contravention. As penalty was already proposed under Regulation 14 of the Courier Import and Export Regulations, invoking Section 117 was deemed unsustainable. Moreover, as the appellant acted as a facilitator for customs transactions, and no illegality related to goods cleared through them was found, the tribunal held that penalty imposition was not justified. - Further, it found that the evidence did not support the allegations, and in some cases, the appellant had complied with the regulations. Therefore, the tribunal set aside the penalties imposed under Regulation 14 of the Courier Import and Export Regulations.
Levy of penalty for abetting in mis-declaration of imported goods - Revocation of Courier License - The tribunal ruled that penalty under this section could only be imposed if no express penalty was provided elsewhere for the contravention. As penalty was already proposed under Regulation 14 of the Courier Import and Export Regulations, invoking Section 117 was deemed unsustainable. Moreover, as the appellant acted as a facilitator for customs transactions, and no illegality related to goods cleared through them was found, the tribunal held that penalty imposition was not justified. - Further, it found that the evidence did not support the allegations, and in some cases, the appellant had complied with the regulations. Therefore, the tribunal set aside the penalties imposed under Regulation 14 of the Courier Import and Export Regulations.
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