Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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Central Excise and Service Tax Appellate Tribunal (CESTAT) case involving valuation of imported goods - rejection of declared value - enhancement of value. The tribunal held that when the imported goods were numerous, only a few items were referenced without considering the importer's submissions. The grounds for value enhancement were not communicated to the importer, violating natural justice principles. The tribunal observed that the provisions of Rule 3(b) of the Customs Valuation Rules, 2007, regarding transaction value for imports by related persons, were not properly applied. The original authority failed to examine the values against identical or similar items imported by independent buyers from the same supplier or other contemporaneous imports. The lower appellate authority's order setting aside the original order without determining the appropriate values created a vacuum. The case was remanded to the original authority to reconsider the issue afresh, adhering to natural justice principles and examining all relevant factors within three months.
Central Excise and Service Tax Appellate Tribunal (CESTAT) case involving valuation of imported goods - rejection of declared value - enhancement of value. The tribunal held that when the imported goods were numerous, only a few items were referenced without considering the importer's submissions. The grounds for value enhancement were not communicated to the importer, violating natural justice principles. The tribunal observed that the provisions of Rule 3(b) of the Customs Valuation Rules, 2007, regarding transaction value for imports by related persons, were not properly applied. The original authority failed to examine the values against identical or similar items imported by independent buyers from the same supplier or other contemporaneous imports. The lower appellate authority's order setting aside the original order without determining the appropriate values created a vacuum. The case was remanded to the original authority to reconsider the issue afresh, adhering to natural justice principles and examining all relevant factors within three months.
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