Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
The Delhi High Court upheld the order of the Tribunal on the following issues: 1. Transfer Pricing adjustment on Advertising, Marketing and Promotional (AMP) expenditure was rejected in the absence of evidence establishing an arrangement or concerted action between the Indian entity and its Associated Enterprise. 2. Disallowance u/s 14A was not warranted as there was no exempt income earned in the concerned Assessment Years. 3. Disallowance of brand building expenditure u/s 37 was not justified. As per Section 48 of the Trade Marks Act, the assessee, being a licensee, was entitled to claim such expenditure as business expenditure, although it may have enhanced the brand of the overseas owner. 4. Disallowance based on seized material pertaining to preceding years was not merited in the absence of incriminating material for the concerned Assessment Years, following the Supreme Court's decision in Sinhgad Technical Education Society.
The Delhi High Court upheld the order of the Tribunal on the following issues: 1. Transfer Pricing adjustment on Advertising, Marketing and Promotional (AMP) expenditure was rejected in the absence of evidence establishing an arrangement or concerted action between the Indian entity and its Associated Enterprise. 2. Disallowance u/s 14A was not warranted as there was no exempt income earned in the concerned Assessment Years. 3. Disallowance of brand building expenditure u/s 37 was not justified. As per Section 48 of the Trade Marks Act, the assessee, being a licensee, was entitled to claim such expenditure as business expenditure, although it may have enhanced the brand of the overseas owner. 4. Disallowance based on seized material pertaining to preceding years was not merited in the absence of incriminating material for the concerned Assessment Years, following the Supreme Court's decision in Sinhgad Technical Education Society.
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