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 appeals relate to confiscation of Duty Entitlement Pass Book (DEPB) licenses and Telegraphic Release Advices (TRAs), and demands of customs duty u/s 28(1) of the Customs Act, 1962, along with penalties u/ss 112(a) and 114(A). The CESTAT dismissed appeals by importers and traders, holding that the TRAs and DEPBs were forged and fabricated instruments. The High Court affirmed that there can be no credit derived from forged scrips, and the liability for duty, interest, and statutory consequences is unavoidable. The factual findings by authorities were upheld as no perversity was found. Penalties on importers were restored to 50% in line with traders/brokers. The Settlement Commission's orders for co-noticees who approached it cannot be extended to other co-noticees who did not approach it, as the 'case' u/s 127-B relates only to the declarant and not all co-noticees in common proceedings.
The appeals relate to confiscation of Duty Entitlement Pass Book (DEPB) licenses and Telegraphic Release Advices (TRAs), and demands of customs duty u/s 28(1) of the Customs Act, 1962, along with penalties u/ss 112(a) and 114(A). The CESTAT dismissed appeals by importers and traders, holding that the TRAs and DEPBs were forged and fabricated instruments. The High Court affirmed that there can be no credit derived from forged scrips, and the liability for duty, interest, and statutory consequences is unavoidable. The factual findings by authorities were upheld as no perversity was found. Penalties on importers were restored to 50% in line with traders/brokers. The Settlement Commission's orders for co-noticees who approached it cannot be extended to other co-noticees who did not approach it, as the 'case' u/s 127-B relates only to the declarant and not all co-noticees in common proceedings.
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