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 had defaulted in achieving the export target, and the bank guarantee executed by the petitioner was enforced. The High Court upheld the order of the Foreign Trade Development Officer (FTDO) demanding interest and proposing penal action u/s 11(2) of the Foreign Trade (Development and Regulation) Act, 1992, for failure to remit interest within 30 days. The High Court relied on the Supreme Court's judgment in Rexnord Electronics and Controls Limited v. Union of India and Others, which held that evasion of duty is bound to result in payment of duty and interest in terms of the Bond executed by the parties. The writ appeal was allowed, reversing the order of the writ Court.
The petitioner had defaulted in achieving the export target, and the bank guarantee executed by the petitioner was enforced. The High Court upheld the order of the Foreign Trade Development Officer (FTDO) demanding interest and proposing penal action u/s 11(2) of the Foreign Trade (Development and Regulation) Act, 1992, for failure to remit interest within 30 days. The High Court relied on the Supreme Court's judgment in Rexnord Electronics and Controls Limited v. Union of India and Others, which held that evasion of duty is bound to result in payment of duty and interest in terms of the Bond executed by the parties. The writ appeal was allowed, reversing the order of the writ Court.
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