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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HC reduced penalty from Rs. 17.10 lakhs to Rs. 10,000 for a SEZ unit's failure to achieve positive Net Foreign Exchange Earnings (NFE) in 2008-09. The unit's inability was attributed to severe weather conditions causing damage to export goods. The court considered that the unit subsequently achieved positive NFE in 2011-12 and maintained compliance over the five-year block period (2005-06 to 2009-10). Under Rule 54(2) of SEZ Rules and FTDR Act, the court deemed the original penalty excessive, noting the temporary nature of the breach and valid explanations provided. The token penalty reflects a proportionate response to the technical violation while acknowledging the unit's overall compliance and mitigating circumstances.
HC reduced penalty from Rs. 17.10 lakhs to Rs. 10,000 for a SEZ unit's failure to achieve positive Net Foreign Exchange Earnings (NFE) in 2008-09. The unit's inability was attributed to severe weather conditions causing damage to export goods. The court considered that the unit subsequently achieved positive NFE in 2011-12 and maintained compliance over the five-year block period (2005-06 to 2009-10). Under Rule 54(2) of SEZ Rules and FTDR Act, the court deemed the original penalty excessive, noting the temporary nature of the breach and valid explanations provided. The token penalty reflects a proportionate response to the technical violation while acknowledging the unit's overall compliance and mitigating circumstances.
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