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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Duty demand u/s 28(1) of Customs Act, 1962, upon importer and transferee of license issued by DGFT - Liability of transferee for fraudulently obtained license - Levy of penalties u/s 114A - Extended period of limitation. License issued and made transferable by DGFT, valid and subsisting at the time of imports and clearance by importer. Customs verified license before clearance. Importer took precautions before purchasing license from broker. Alleged fictitious exports and fraud committed by exporter/original license holder, no allegation or evidence of importer's awareness. Duty forgone should be recovered from exporter/original license holder, not importer. Show cause notice dated 28.1.2015 raised demand for imports in April 2010, invoking extended period of limitation under proviso to Section 28(1). However, importer is bonafide transferee, larger period cannot be applied. Demand of duty under proviso to Section 28(1) and penalty u/s 114A against importer set aside on ground of time bar. Appeal allowed.
Duty demand u/s 28(1) of Customs Act, 1962, upon importer and transferee of license issued by DGFT - Liability of transferee for fraudulently obtained license - Levy of penalties u/s 114A - Extended period of limitation. License issued and made transferable by DGFT, valid and subsisting at the time of imports and clearance by importer. Customs verified license before clearance. Importer took precautions before purchasing license from broker. Alleged fictitious exports and fraud committed by exporter/original license holder, no allegation or evidence of importer's awareness. Duty forgone should be recovered from exporter/original license holder, not importer. Show cause notice dated 28.1.2015 raised demand for imports in April 2010, invoking extended period of limitation under proviso to Section 28(1). However, importer is bonafide transferee, larger period cannot be applied. Demand of duty under proviso to Section 28(1) and penalty u/s 114A against importer set aside on ground of time bar. Appeal allowed.
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