Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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...
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The CESTAT held that the appellant could not be implicated solely based on the retracted confessional statement of the co-accused. The telephonic call between them was insufficient to establish appellant's involvement in gold smuggling. Imposing penalties u/s 112(a) and 112(b) of the Customs Act, 1962 was incorrect as there was no evidence of appellant dealing with the seized goods or having prior knowledge of their liability for confiscation. Consequently, the penalties imposed on the appellant were set aside and the appeal was allowed.
The CESTAT held that the appellant could not be implicated solely based on the retracted confessional statement of the co-accused. The telephonic call between them was insufficient to establish appellant's involvement in gold smuggling. Imposing penalties u/s 112(a) and 112(b) of the Customs Act, 1962 was incorrect as there was no evidence of appellant dealing with the seized goods or having prior knowledge of their liability for confiscation. Consequently, the penalties imposed on the appellant were set aside and the appeal was allowed.
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