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 CESTAT dismissed the Revenue's appeal regarding the determination of export duty on exported iron ore fines. The Tribunal held that the iron content, prior to the amendment effective May 1, 2022, must be calculated on a wet basis following the principles established by the Bombay High Court and affirmed by the Supreme Court. The report from the Central Revenue Control Laboratory (CRCL), Kolkata, pertained to the dry form and was deemed irrelevant. The Tribunal ruled that the test report from the NABL-accredited agency at the load port should prevail over the CRCL report for determining the final iron content and transaction value as per the terms of the contract with the foreign buyer. The Customs officers cannot change the transaction value or the stipulated test report. The CRCL report cannot be used for levying export duty, and there were no allegations of fraud or misdeclaration. The Tribunal upheld the Commissioner (Appeals)'s order, finding no infirmity, and dismissed the Revenue's appeal.
The CESTAT dismissed the Revenue's appeal regarding the determination of export duty on exported iron ore fines. The Tribunal held that the iron content, prior to the amendment effective May 1, 2022, must be calculated on a wet basis following the principles established by the Bombay High Court and affirmed by the Supreme Court. The report from the Central Revenue Control Laboratory (CRCL), Kolkata, pertained to the dry form and was deemed irrelevant. The Tribunal ruled that the test report from the NABL-accredited agency at the load port should prevail over the CRCL report for determining the final iron content and transaction value as per the terms of the contract with the foreign buyer. The Customs officers cannot change the transaction value or the stipulated test report. The CRCL report cannot be used for levying export duty, and there were no allegations of fraud or misdeclaration. The Tribunal upheld the Commissioner (Appeals)'s order, finding no infirmity, and dismissed the Revenue's appeal.
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