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 issue pertained to the categorization of galvanized iron sheets under the Central Sales Tax (CST) Act and the Andhra Pradesh Value Added Tax (VAT) Act. The Supreme Court in State of Tamil Nadu v. Pyare Lal Malhotra held that a product created from another within the same sub-category cannot be treated as a different commercial product for tax purposes. Entry 70(vi) of the AP VAT Act includes sheets, hoops, strips, and skelp, whether black, galvanized, hot/cold rolled, plain or corrugated, under the same sub-entry. This implies that corrugating plain sheets into corrugated iron sheets does not change the product's category. The Calcutta High Court in Phanindra Nath Manna & Company v. Commercial Tax Officer concurred, stating that galvanized sheets include corrugated and plain sheets, and corrugation does not alter their character as iron sheets. Therefore, the Deputy Commissioner could not have refused deferment of hearing on this issue.
The issue pertained to the categorization of galvanized iron sheets under the Central Sales Tax (CST) Act and the Andhra Pradesh Value Added Tax (VAT) Act. The Supreme Court in State of Tamil Nadu v. Pyare Lal Malhotra held that a product created from another within the same sub-category cannot be treated as a different commercial product for tax purposes. Entry 70(vi) of the AP VAT Act includes sheets, hoops, strips, and skelp, whether black, galvanized, hot/cold rolled, plain or corrugated, under the same sub-entry. This implies that corrugating plain sheets into corrugated iron sheets does not change the product's category. The Calcutta High Court in Phanindra Nath Manna & Company v. Commercial Tax Officer concurred, stating that galvanized sheets include corrugated and plain sheets, and corrugation does not alter their character as iron sheets. Therefore, the Deputy Commissioner could not have refused deferment of hearing on this issue.
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