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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CESTAT allowed the appeal against confiscation of 449.300 gms of fine gold and penalties imposed on the appellants. It held that the department failed to produce any evidence to prove the gold was smuggled or of foreign origin. No reasonable belief was formed regarding the smuggled nature of the gold as mandated u/s 123 of the Customs Act. The principles of natural justice were violated as no panchnama was drawn during seizure and relied upon documents were not supplied despite requests. Consequently, the confiscation of gold and penalties were set aside due to lack of evidence and violation of principles of natural justice.
CESTAT allowed the appeal against confiscation of 449.300 gms of fine gold and penalties imposed on the appellants. It held that the department failed to produce any evidence to prove the gold was smuggled or of foreign origin. No reasonable belief was formed regarding the smuggled nature of the gold as mandated u/s 123 of the Customs Act. The principles of natural justice were violated as no panchnama was drawn during seizure and relied upon documents were not supplied despite requests. Consequently, the confiscation of gold and penalties were set aside due to lack of evidence and violation of principles of natural justice.
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