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 High Court held that the products Para Cumidine (ITC HS Code 2921 49 20) and Diaminostilbene 2, 2-disulphonic acid (DASDA) (ITC HS Code 2921 59 40) were part of Appendix 3B Table 2 of the MEIS scheme, and the revision of their ITC HS Codes through Notification No. 38/2015-2020 was merely to synchronize with the Finance Act (No. 2) of 2019. The Court observed that the annexures to the notification and the public notice No. 12/2015-2020 did not exclude these codes from the MEIS scheme. The reasons for denying the benefit were contrary to the notifications, which did not intend to exclude these products. The Court held that the contention of alignment with the Finance Act was untenable, as there was no change in the MEIS schedule for these items. The Court also rejected the objection regarding the discontinuation of the MEIS scheme, stating that the codes were not excluded from the scheme. Therefore, the petitioner was entitled to the MEIS benefit for these products until 31.12.2020.
The High Court held that the products Para Cumidine (ITC HS Code 2921 49 20) and Diaminostilbene 2, 2-disulphonic acid (DASDA) (ITC HS Code 2921 59 40) were part of Appendix 3B Table 2 of the MEIS scheme, and the revision of their ITC HS Codes through Notification No. 38/2015-2020 was merely to synchronize with the Finance Act (No. 2) of 2019. The Court observed that the annexures to the notification and the public notice No. 12/2015-2020 did not exclude these codes from the MEIS scheme. The reasons for denying the benefit were contrary to the notifications, which did not intend to exclude these products. The Court held that the contention of alignment with the Finance Act was untenable, as there was no change in the MEIS schedule for these items. The Court also rejected the objection regarding the discontinuation of the MEIS scheme, stating that the codes were not excluded from the scheme. Therefore, the petitioner was entitled to the MEIS benefit for these products until 31.12.2020.
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