Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The CESTAT disposed of the appeal with the following key holdings: Undervaluation relating to stock transfer to their own unit and sale to sister unit was held not sustainable as it was a revenue-neutral situation. Demand of Rs.1,94,02,717/- and Rs.52,28,055/- set aside. Demand of Rs.1,15,616/- for short receipt of methanol set aside following the tribunal's earlier ruling allowing transit loss. CENVAT credit of Rs.2,50,647/- for inputs used in research and development allowed as it relates to manufacturing activity. CENVAT credit of Rs.14,86,640/- and Rs.34,88,013/- taken on endorsed invoices/bills of entry allowed following the Allahabad High Court's ruling. Demand of Rs.14,04,491/- for alleged shortage of finished goods set aside due to lack of evidence on clearances, transportation, and recipients. Consequently, no penalty was imposable on the appellant.
The CESTAT disposed of the appeal with the following key holdings: Undervaluation relating to stock transfer to their own unit and sale to sister unit was held not sustainable as it was a revenue-neutral situation. Demand of Rs.1,94,02,717/- and Rs.52,28,055/- set aside. Demand of Rs.1,15,616/- for short receipt of methanol set aside following the tribunal's earlier ruling allowing transit loss. CENVAT credit of Rs.2,50,647/- for inputs used in research and development allowed as it relates to manufacturing activity. CENVAT credit of Rs.14,86,640/- and Rs.34,88,013/- taken on endorsed invoices/bills of entry allowed following the Allahabad High Court's ruling. Demand of Rs.14,04,491/- for alleged shortage of finished goods set aside due to lack of evidence on clearances, transportation, and recipients. Consequently, no penalty was imposable on the appellant.
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