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 set aside the order of the Settlement Commission affirming the petitioner's liability to pay further amounts towards interest, over and above the customs duty payable for default in meeting the Export Obligation under the EPCG license. The court held that the amendment vide Notification No. 46/2013-Cus and Public Notice No. 22(RE-2013)/2009-2014 dealt only with default in Export Obligation when duty is paid, regularizing the interest amount not exceeding the duty payable. It did not cover cases of bona fide default by the importer. Consequently, the determination of defaulted interest by the Deputy Commissioner and affirmation by the Settlement Commission was held arbitrary and contrary to the notifications. The petitioner's application before the Settlement Commission was allowed by the High Court.
The High Court set aside the order of the Settlement Commission affirming the petitioner's liability to pay further amounts towards interest, over and above the customs duty payable for default in meeting the Export Obligation under the EPCG license. The court held that the amendment vide Notification No. 46/2013-Cus and Public Notice No. 22(RE-2013)/2009-2014 dealt only with default in Export Obligation when duty is paid, regularizing the interest amount not exceeding the duty payable. It did not cover cases of bona fide default by the importer. Consequently, the determination of defaulted interest by the Deputy Commissioner and affirmation by the Settlement Commission was held arbitrary and contrary to the notifications. The petitioner's application before the Settlement Commission was allowed by the High Court.
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