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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Eligibility for input CENVAT credit utilization, invocation of extended period of limitation, and imposition of fines and penalties in a case involving job-worked goods. The appellant failed to comply with record-keeping requirements u/r 9(5) of the Central Excise Rules, making it ineligible for CENVAT credit on inputs used in job-worked goods. However, the appellant can avail credit subject to verification of duty-paid invoices/documents within six months. The extended period was rightly invoked due to non-disclosure of job-work activity and non-payment of excise duty/service tax. The executive director's claim of mistaken impression was rejected, and penalties were upheld for willful contravention. While penalties on other appellants were reduced, the main appeal was partly remanded and partly allowed by the CESTAT.
Eligibility for input CENVAT credit utilization, invocation of extended period of limitation, and imposition of fines and penalties in a case involving job-worked goods. The appellant failed to comply with record-keeping requirements u/r 9(5) of the Central Excise Rules, making it ineligible for CENVAT credit on inputs used in job-worked goods. However, the appellant can avail credit subject to verification of duty-paid invoices/documents within six months. The extended period was rightly invoked due to non-disclosure of job-work activity and non-payment of excise duty/service tax. The executive director's claim of mistaken impression was rejected, and penalties were upheld for willful contravention. While penalties on other appellants were reduced, the main appeal was partly remanded and partly allowed by the CESTAT.
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