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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
CESTAT ruled in favor of appellants in a gold jewelry smuggling case, overturning earlier decisions by Adjudicating Authority and Commissioner (Appeals). The Tribunal found that appellants successfully demonstrated legitimate ownership of seized gold through consistent statements and documented RTGS payments to M/s Jain Jewellers. Revenue failed to establish reasonable belief of smuggling under Section 123 of Customs Act, 1962. Distinguished from Om Prakash Khatri case where burden of proof was not met by intercepted persons. Tribunal emphasized that revenue's assumptions were insufficient without concrete evidence of smuggling, while appellants provided satisfactory explanations regarding gold ownership. Appeals allowed with merit.
CESTAT ruled in favor of appellants in a gold jewelry smuggling case, overturning earlier decisions by Adjudicating Authority and Commissioner (Appeals). The Tribunal found that appellants successfully demonstrated legitimate ownership of seized gold through consistent statements and documented RTGS payments to M/s Jain Jewellers. Revenue failed to establish reasonable belief of smuggling under Section 123 of Customs Act, 1962. Distinguished from Om Prakash Khatri case where burden of proof was not met by intercepted persons. Tribunal emphasized that revenue's assumptions were insufficient without concrete evidence of smuggling, while appellants provided satisfactory explanations regarding gold ownership. Appeals allowed with merit.
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