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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Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values from excel sheet for 3 Bills of Entry, enhanced value where warranted for 16 Bills. Addition of 20% freight, 1.125% insurance u/r 10(2) not sustainable, excel values treated as CIF. Confiscation value Rs.5,47,66,445, penalty of Rs.9 lakhs on Nitin u/s 112 fair. Penalty of Rs.20 lakhs on Nitin u/s 114AA set aside. Penalty of Rs.2 lakhs on Anshul u/s 112 upheld, Rs.5 lakhs penalty u/s 114AA set aside. Declared value rejection upheld, re-determination partly upheld treating excel values as CIF. Remanded for re-computing duty, interest, penalty u/s 114A. Appeal allowed by way of remand.
Rejection of declared transaction value under Valuation Rule 12, re-determination of value under Valuation Rules 4-9. Commissioner followed Rule 9, adopted actual values from excel sheet for 3 Bills of Entry, enhanced value where warranted for 16 Bills. Addition of 20% freight, 1.125% insurance u/r 10(2) not sustainable, excel values treated as CIF. Confiscation value Rs.5,47,66,445, penalty of Rs.9 lakhs on Nitin u/s 112 fair. Penalty of Rs.20 lakhs on Nitin u/s 114AA set aside. Penalty of Rs.2 lakhs on Anshul u/s 112 upheld, Rs.5 lakhs penalty u/s 114AA set aside. Declared value rejection upheld, re-determination partly upheld treating excel values as CIF. Remanded for re-computing duty, interest, penalty u/s 114A. Appeal allowed by way of remand.
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