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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Classification of imported goods requires following settled law and General Rules for Interpretation of Import Tariff. The finding of goods being separately identifiable should have led to determining corresponding description in First Schedule of Customs Tariff Act, 1975 instead of treating it as a composite good. Reliance on purported 'common parlance' derived from consumer behavior is incorrect as it is neither true 'common parlance' nor derived from acceptable market study. 'Common parlance' resolves ambiguity in description for tariff fitment, not a substitute for determining appropriate tariff item. The exercise of classification was incorrectly carried out. The matter is remitted to the original authority for a fresh decision in accordance with law.
Classification of imported goods requires following settled law and General Rules for Interpretation of Import Tariff. The finding of goods being separately identifiable should have led to determining corresponding description in First Schedule of Customs Tariff Act, 1975 instead of treating it as a composite good. Reliance on purported 'common parlance' derived from consumer behavior is incorrect as it is neither true 'common parlance' nor derived from acceptable market study. 'Common parlance' resolves ambiguity in description for tariff fitment, not a substitute for determining appropriate tariff item. The exercise of classification was incorrectly carried out. The matter is remitted to the original authority for a fresh decision in accordance with law.
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