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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An EOU (100% Export Oriented Unit) is entitled to take suo-moto re-credit of the CENVAT credit earlier reversed, without following the refund procedure u/s 11B of the Central Excise Act, 1944. When the original credit was eligible, and the reversal was merely an accounting entry, suo-moto re-credit is permissible. The extended period of limitation cannot be invoked without evidence of willful misstatement or suppression. Consequently, the demand of Rs.40,64,459/- u/r 14 of CENVAT Credit Rules, 2004 read with Section 11A of the Central Excise Act, 1944, interest, and penalties were held untenable by the CESTAT. The appeal was allowed.
An EOU (100% Export Oriented Unit) is entitled to take suo-moto re-credit of the CENVAT credit earlier reversed, without following the refund procedure u/s 11B of the Central Excise Act, 1944. When the original credit was eligible, and the reversal was merely an accounting entry, suo-moto re-credit is permissible. The extended period of limitation cannot be invoked without evidence of willful misstatement or suppression. Consequently, the demand of Rs.40,64,459/- u/r 14 of CENVAT Credit Rules, 2004 read with Section 11A of the Central Excise Act, 1944, interest, and penalties were held untenable by the CESTAT. The appeal was allowed.
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