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 Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal filed by the appellants against the order of the Commissioner classifying their product 'Propylene/Propene-PP feed stock' under CETI 2711 1400. The Tribunal held that if propylene/propene is in a pure or commercially pure state, being a separate chemically defined hydrocarbon, it is classifiable under heading 29.01 and not under Chapter 27. The matter was remanded back to the original authority to determine the purity level and whether it is a separate chemically defined compound for proper classification. The Tribunal also held that the extended period of limitation u/s 11A cannot be invoked as there was no willful suppression or misstatement by the appellants, whose periodic returns clearly showed details of production and clearance of the impugned product.
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal filed by the appellants against the order of the Commissioner classifying their product 'Propylene/Propene-PP feed stock' under CETI 2711 1400. The Tribunal held that if propylene/propene is in a pure or commercially pure state, being a separate chemically defined hydrocarbon, it is classifiable under heading 29.01 and not under Chapter 27. The matter was remanded back to the original authority to determine the purity level and whether it is a separate chemically defined compound for proper classification. The Tribunal also held that the extended period of limitation u/s 11A cannot be invoked as there was no willful suppression or misstatement by the appellants, whose periodic returns clearly showed details of production and clearance of the impugned product.
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