Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
Page of 4824
Press 'Enter' after typing page number.
4781 to 4800 of 96463 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The AT upheld the adjudication order regarding contravention of Section 5 of FEMA read with Rule 4 of FEMA (Current Account Transactions) Rules, 2000, for remitting royalty to overseas parties exceeding permissible limit of 5% on local sales. The respondents had filed CST returns and respective State Level Sales Tax Returns disclosing actual sale price for taxation purpose, duly considered by the adjudicating authority. The AT held that sale price only relates to consideration for transferring property in goods without abatement except as provided, rejecting the appellant's reliance on a case pertaining to calculation of net income and not net sale price. The AT was not convinced by the appellant's submissions in view of its observations.
The AT upheld the adjudication order regarding contravention of Section 5 of FEMA read with Rule 4 of FEMA (Current Account Transactions) Rules, 2000, for remitting royalty to overseas parties exceeding permissible limit of 5% on local sales. The respondents had filed CST returns and respective State Level Sales Tax Returns disclosing actual sale price for taxation purpose, duly considered by the adjudicating authority. The AT held that sale price only relates to consideration for transferring property in goods without abatement except as provided, rejecting the appellant's reliance on a case pertaining to calculation of net income and not net sale price. The AT was not convinced by the appellant's submissions in view of its observations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
