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 quashed the decision of the Policy Relaxation Committee (PRC) rejecting partial benefit under the Merchandise Exports from India Scheme (MEIS) due to a mismatch between the goods description in shipping bills and ITC (HS) 87085000. The court found the decision-making process grossly defective, lacking application of mind and breach of natural justice principles. The PRC failed to indicate reasons for accepting the respondent's case or rejecting the petitioner's case, without discussing the Risk Assessment (RA) report or comments from PC-3 Divisions. The court directed the PRC to reconsider the petitioner's claim within two months, furnishing the RA report and PC-3 comments to the petitioner within 15 days. If additional material is considered, copies must be provided to the petitioner for response. The PRC must hear the petitioner and pass a reasoned order.
The High Court quashed the decision of the Policy Relaxation Committee (PRC) rejecting partial benefit under the Merchandise Exports from India Scheme (MEIS) due to a mismatch between the goods description in shipping bills and ITC (HS) 87085000. The court found the decision-making process grossly defective, lacking application of mind and breach of natural justice principles. The PRC failed to indicate reasons for accepting the respondent's case or rejecting the petitioner's case, without discussing the Risk Assessment (RA) report or comments from PC-3 Divisions. The court directed the PRC to reconsider the petitioner's claim within two months, furnishing the RA report and PC-3 comments to the petitioner within 15 days. If additional material is considered, copies must be provided to the petitioner for response. The PRC must hear the petitioner and pass a reasoned order.
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