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 petitioner had exported goods eligible for the Merchandise Exports from India Scheme (MEIS) under Chapter 3 of the Foreign Trade Policy and claimed duty drawback u/s 75 of the Customs Act, 1975. There were no records indicating denial of parallel incentives. The export of goods stands confirmed. Courts have been liberal in granting reliefs to exporters under the scheme. Since the petitioner made legitimate exports and was not otherwise disentitled to export incentives under MEIS, the petition was allowed. Respondents were directed to ensure suitable amendment of shipping bills for the petitioner to claim MEIS benefits on exports, without prejudice to the Department's rights to recover incentives if discrepancies are noticed.
The petitioner had exported goods eligible for the Merchandise Exports from India Scheme (MEIS) under Chapter 3 of the Foreign Trade Policy and claimed duty drawback u/s 75 of the Customs Act, 1975. There were no records indicating denial of parallel incentives. The export of goods stands confirmed. Courts have been liberal in granting reliefs to exporters under the scheme. Since the petitioner made legitimate exports and was not otherwise disentitled to export incentives under MEIS, the petition was allowed. Respondents were directed to ensure suitable amendment of shipping bills for the petitioner to claim MEIS benefits on exports, without prejudice to the Department's rights to recover incentives if discrepancies are noticed.
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