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 Petitioner, a manufacturer of Asbestos Free brake-lining and Brake pads & brake shoes, exported these items under 28 shipping bills. However, due to a technical difficulty, the Petitioner inadvertently marked 'N' instead of 'Y' in the "reward item box" for claiming rewards under the Merchandise Exports from India Scheme (MEIS). Consequently, these shipping bills were not transmitted for granting rewards. The Policy Relaxation Committee rejected the Petitioner's claim for release of the admissible reward amounts under MEIS. The High Court, relying on the Supreme Court's decision in N.C. John case and Mangalath Cashews, ANU Cashew cases, held that where there is an inadvertent mistake of mentioning 'N' instead of 'Y' and the claimant had shown the intent to claim MEIS benefit, the reward should be granted. Since the Petitioner had declared their intention to claim rewards under MEIS while filling the shipping bills, applying the N.C. John case, the Petitioner is entitled to the rewards.
The Petitioner, a manufacturer of Asbestos Free brake-lining and Brake pads & brake shoes, exported these items under 28 shipping bills. However, due to a technical difficulty, the Petitioner inadvertently marked 'N' instead of 'Y' in the "reward item box" for claiming rewards under the Merchandise Exports from India Scheme (MEIS). Consequently, these shipping bills were not transmitted for granting rewards. The Policy Relaxation Committee rejected the Petitioner's claim for release of the admissible reward amounts under MEIS. The High Court, relying on the Supreme Court's decision in N.C. John case and Mangalath Cashews, ANU Cashew cases, held that where there is an inadvertent mistake of mentioning 'N' instead of 'Y' and the claimant had shown the intent to claim MEIS benefit, the reward should be granted. Since the Petitioner had declared their intention to claim rewards under MEIS while filling the shipping bills, applying the N.C. John case, the Petitioner is entitled to the rewards.
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