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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The case involved a penalty u/s 114(iii) of Customs Act, 1962 for mis-declaration of export goods leading to undue duty drawback benefit. The issue was the admissibility of statements u/s 138B and WhatsApp messages u/s 138C as evidence. The Appellate Tribunal held that statements were inadmissible as witnesses were not examined or offered for cross-examination, violating legal practices. Similarly, WhatsApp messages lacked specific mention of appellant's involvement and were not obtained following the procedure u/s 138C. Consequently, the penalty imposed was deemed legally unsustainable, and the appeal was allowed, setting aside the penalty of Rs. 25 Lakh.
The case involved a penalty u/s 114(iii) of Customs Act, 1962 for mis-declaration of export goods leading to undue duty drawback benefit. The issue was the admissibility of statements u/s 138B and WhatsApp messages u/s 138C as evidence. The Appellate Tribunal held that statements were inadmissible as witnesses were not examined or offered for cross-examination, violating legal practices. Similarly, WhatsApp messages lacked specific mention of appellant's involvement and were not obtained following the procedure u/s 138C. Consequently, the penalty imposed was deemed legally unsustainable, and the appeal was allowed, setting aside the penalty of Rs. 25 Lakh.
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