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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Petitioner satisfied all requirements to claim benefits under Merchandise Export from India Scheme (MEIS) but failed to declare intent on shipping bills due to inadvertent and bona fide error. Court held that benefits should not be denied on hyper-technical grounds for a procedural lapse subsequently rectified u/s 149 of Customs Act. Petitioner's request was rejected due to system error beyond their control. Court opined that Policy Relaxation Committee should have considered inadvertent error and subsequent rectification. Since petitioner fulfilled prerequisites, court allowed petition and directed respondents to consider MEIS claims electronically/manually in accordance with public notices, respecting 17 shipping bills.
Petitioner satisfied all requirements to claim benefits under Merchandise Export from India Scheme (MEIS) but failed to declare intent on shipping bills due to inadvertent and bona fide error. Court held that benefits should not be denied on hyper-technical grounds for a procedural lapse subsequently rectified u/s 149 of Customs Act. Petitioner's request was rejected due to system error beyond their control. Court opined that Policy Relaxation Committee should have considered inadvertent error and subsequent rectification. Since petitioner fulfilled prerequisites, court allowed petition and directed respondents to consider MEIS claims electronically/manually in accordance with public notices, respecting 17 shipping bills.
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