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 appellant, a 100% Export Oriented Unit (EOU), imported 'Milled Glass Powder' for manufacturing and exporting 'Bead glass' used in 'Electron Guns'. During August 2004 to March 2006, the actual waste generated exceeded the Standard Input-Output Norms (SION) of 4.76%. The Development Commissioner granted ad-hoc approval for 20.34% waste for six months, further extended by the Board of Approvals. Despite excess wastage over SION, the appellant fulfilled export obligations without diverting imported goods. Merely exceeding wastage norms without evidence of diversion cannot lead to a presumption of improper accounting or demand of duty under Customs Act Sections 65(2)(b) and 72(1)(d). The Tribunal set aside the demand of duty and interest, holding that excess wastage alone cannot treat imported goods as not used for manufacturing exports when obligations are met.
The appellant, a 100% Export Oriented Unit (EOU), imported 'Milled Glass Powder' for manufacturing and exporting 'Bead glass' used in 'Electron Guns'. During August 2004 to March 2006, the actual waste generated exceeded the Standard Input-Output Norms (SION) of 4.76%. The Development Commissioner granted ad-hoc approval for 20.34% waste for six months, further extended by the Board of Approvals. Despite excess wastage over SION, the appellant fulfilled export obligations without diverting imported goods. Merely exceeding wastage norms without evidence of diversion cannot lead to a presumption of improper accounting or demand of duty under Customs Act Sections 65(2)(b) and 72(1)(d). The Tribunal set aside the demand of duty and interest, holding that excess wastage alone cannot treat imported goods as not used for manufacturing exports when obligations are met.
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