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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Valuation of imported goods - Polyurethane Sealant - enhancement of value solely based on appellant's acceptance letter whereby price was increased 5 times declared value. Held: Value enhanced solely on acceptance letter dated 26.07.2018 by appellant. As per CMR Nikkei India Pvt. Ltd case, despite importer's admission, Revenue must satisfy Section 14 of Customs Act and Customs Valuation Rules before enhancing valuation. Only acceptance letter relied upon, no contemporaneous import price based on documentary evidence. Therefore, no reason to enhance value. Both lower Authorities' orders incorrect and illegal. Sukhdev Exports Overseas case involving statement u/s 108 not applicable as no such statement recorded here. Impugned order set aside - appeal allowed.
Valuation of imported goods - Polyurethane Sealant - enhancement of value solely based on appellant's acceptance letter whereby price was increased 5 times declared value. Held: Value enhanced solely on acceptance letter dated 26.07.2018 by appellant. As per CMR Nikkei India Pvt. Ltd case, despite importer's admission, Revenue must satisfy Section 14 of Customs Act and Customs Valuation Rules before enhancing valuation. Only acceptance letter relied upon, no contemporaneous import price based on documentary evidence. Therefore, no reason to enhance value. Both lower Authorities' orders incorrect and illegal. Sukhdev Exports Overseas case involving statement u/s 108 not applicable as no such statement recorded here. Impugned order set aside - appeal allowed.
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