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 allowed the writ petition. Without altering the classification in the shipping bills filed u/s 50, the duty drawback sanctioned to the petitioner cannot be denied by invoking Section 28 of the Customs Act, 1962. As per the Supreme Court's rulings in Priya Blue Industries Ltd. and ITC Limited cases, while processing a refund application, reassessment is not permitted, nor can conditions of exemption be adjudicated. Reassessment is permitted only u/ss 17(3), (4), and (5). When the law mandates a particular thing to be done in a particular manner, it has to be done in that manner. Thus, there is no legal basis to sustain the impugned order denying the higher rate of duty drawback claimed by the petitioner.
The High Court allowed the writ petition. Without altering the classification in the shipping bills filed u/s 50, the duty drawback sanctioned to the petitioner cannot be denied by invoking Section 28 of the Customs Act, 1962. As per the Supreme Court's rulings in Priya Blue Industries Ltd. and ITC Limited cases, while processing a refund application, reassessment is not permitted, nor can conditions of exemption be adjudicated. Reassessment is permitted only u/ss 17(3), (4), and (5). When the law mandates a particular thing to be done in a particular manner, it has to be done in that manner. Thus, there is no legal basis to sustain the impugned order denying the higher rate of duty drawback claimed by the petitioner.
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