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 ruled communication modules imported for smart meters are properly classifiable under CTI 8517 70 90 as parts of communication hubs, not under CTI 9028 90 10/90 as parts of electricity/gas meters. While these modules ultimately become part of smart meters, they maintain distinct identity as communication hub components. The tribunal found no suppression of facts by the appellant, making extended limitation period inapplicable. Penalties under sections 114A, 112, and 114AA were set aside as allegations of intentional misclassification were unfounded. The appellant's classification practice was deemed correct and appeal was allowed with duty demand and interest charges nullified.
CESTAT ruled communication modules imported for smart meters are properly classifiable under CTI 8517 70 90 as parts of communication hubs, not under CTI 9028 90 10/90 as parts of electricity/gas meters. While these modules ultimately become part of smart meters, they maintain distinct identity as communication hub components. The tribunal found no suppression of facts by the appellant, making extended limitation period inapplicable. Penalties under sections 114A, 112, and 114AA were set aside as allegations of intentional misclassification were unfounded. The appellant's classification practice was deemed correct and appeal was allowed with duty demand and interest charges nullified.
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