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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Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to smuggling activities, thus ruling its confiscation unsustainable. Similarly, penalties imposed on appellant nos. 1 and 2 were deemed unjustified due to lack of evidence implicating them in smuggling. Penalties imposed on appellant nos. 3 and 4 were reduced, considering their involvement in the smuggling but deeming the original penalties excessive. Consequently, the tribunal ordered the release of the confiscated currency and set aside penalties for appellant nos. 1 and 2, while reducing penalties for appellant nos. 3 and 4.
Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to smuggling activities, thus ruling its confiscation unsustainable. Similarly, penalties imposed on appellant nos. 1 and 2 were deemed unjustified due to lack of evidence implicating them in smuggling. Penalties imposed on appellant nos. 3 and 4 were reduced, considering their involvement in the smuggling but deeming the original penalties excessive. Consequently, the tribunal ordered the release of the confiscated currency and set aside penalties for appellant nos. 1 and 2, while reducing penalties for appellant nos. 3 and 4.
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