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 allegations of clandestine production and removal of sponge iron. Revenue's case relied solely on theoretical input-output ratios without corroborative evidence or independent plant study. Appellant's declared ratio (1:1.92 in 2008-09 to 1:1.87 in 2009-10) was not effectively rebutted. Revenue failed to establish clandestine removal of 11,542 MT through vehicle movements, buyer statements, or cash transaction records. The demand of Rs.1,42,845 was set aside as revenue-neutral since both units shared common balance sheet with eligible CENVAT credit. Extended period demand was time-barred absent evidence of suppression. Consequently, penalties on Managing Director were vacated.
CESTAT allowed the appeal against allegations of clandestine production and removal of sponge iron. Revenue's case relied solely on theoretical input-output ratios without corroborative evidence or independent plant study. Appellant's declared ratio (1:1.92 in 2008-09 to 1:1.87 in 2009-10) was not effectively rebutted. Revenue failed to establish clandestine removal of 11,542 MT through vehicle movements, buyer statements, or cash transaction records. The demand of Rs.1,42,845 was set aside as revenue-neutral since both units shared common balance sheet with eligible CENVAT credit. Extended period demand was time-barred absent evidence of suppression. Consequently, penalties on Managing Director were vacated.
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