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 HC, in CUSAA 38/2023, interpreted the phrase "MIMO and LTE Products" in Serial No. 13(iv) of the amended Notification No. 24/2005 as applying solely to products combining MIMO technology and LTE standards. Consequently, the WAPs imported by the respondent, employing MIMO technology but not LTE standards, are entitled to the exemption from Basic Customs Duty. The court held that exemption notifications should be interpreted narrowly, and the conjunctive "and" in legal texts typically means a combination rather than alternatives.
The HC, in CUSAA 38/2023, interpreted the phrase "MIMO and LTE Products" in Serial No. 13(iv) of the amended Notification No. 24/2005 as applying solely to products combining MIMO technology and LTE standards. Consequently, the WAPs imported by the respondent, employing MIMO technology but not LTE standards, are entitled to the exemption from Basic Customs Duty. The court held that exemption notifications should be interpreted narrowly, and the conjunctive "and" in legal texts typically means a combination rather than alternatives.
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