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 court held that "vitamins and minerals pre-mix" cannot be categorized under "chemicals" (Entry 29) or "ores and minerals" (Entry 89) of Schedule II of the Act, 2008. Tax is levied on the finished goods, not individual raw materials. The court rejected the contention that the product falls under "drugs and medicines" (Entry 41) as it is not used for alleviating diseases or symptoms. The product is an unclassified item, liable to be taxed as such. The revision petition was dismissed, upholding the orders of the Additional Commissioner and Tribunal.
The court held that "vitamins and minerals pre-mix" cannot be categorized under "chemicals" (Entry 29) or "ores and minerals" (Entry 89) of Schedule II of the Act, 2008. Tax is levied on the finished goods, not individual raw materials. The court rejected the contention that the product falls under "drugs and medicines" (Entry 41) as it is not used for alleviating diseases or symptoms. The product is an unclassified item, liable to be taxed as such. The revision petition was dismissed, upholding the orders of the Additional Commissioner and Tribunal.
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