Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
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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