Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
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The CESTAT Chandigarh addressed the maintainability of appeals below the monetary threshold limit set by CBIC circulars. The tribunal emphasized the binding nature of CBIC instructions on the department, citing Section 131BA of the Customs Act, 1962. The latest circular dated 02.11.2023 specified a monetary limit of Rs. 50 lakhs for filing appeals before the CESTAT. The tribunal noted that the appeals in question fell below this threshold and highlighted that previous appeals below the monetary limits had been consistently dismissed by higher courts. As the duty amount involved in each appeal was below the prescribed limit, the tribunal ruled the appeals as not maintainable based on the CBIC instructions, dismissing all 26 appeals.
The CESTAT Chandigarh addressed the maintainability of appeals below the monetary threshold limit set by CBIC circulars. The tribunal emphasized the binding nature of CBIC instructions on the department, citing Section 131BA of the Customs Act, 1962. The latest circular dated 02.11.2023 specified a monetary limit of Rs. 50 lakhs for filing appeals before the CESTAT. The tribunal noted that the appeals in question fell below this threshold and highlighted that previous appeals below the monetary limits had been consistently dismissed by higher courts. As the duty amount involved in each appeal was below the prescribed limit, the tribunal ruled the appeals as not maintainable based on the CBIC instructions, dismissing all 26 appeals.
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