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 Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled on the classification of imported bed sheets declared as made of 100% polyester. The key points are: The goods were classified as 'Polyester Quilt Cover' by the Tribunal, considering the factual details, size, and common parlance usage. Based on the decided case laws and the nature of the goods, the Tribunal held that the bed sheets are classifiable under CTH 6304 (other furnishing articles) and not under CTH 5407 (woven fabrics of synthetic filament yarn). The order of the lower authority classifying the goods under CTH 6304 was upheld, and the appeal filed by the Revenue was dismissed.
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled on the classification of imported bed sheets declared as made of 100% polyester. The key points are: The goods were classified as 'Polyester Quilt Cover' by the Tribunal, considering the factual details, size, and common parlance usage. Based on the decided case laws and the nature of the goods, the Tribunal held that the bed sheets are classifiable under CTH 6304 (other furnishing articles) and not under CTH 5407 (woven fabrics of synthetic filament yarn). The order of the lower authority classifying the goods under CTH 6304 was upheld, and the appeal filed by the Revenue was dismissed.
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