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 in favor of the appellant regarding valuation of imported black pepper. The tribunal held that the goods were not absolutely prohibited under DGFT Notification 21/2015-2020, as imports were permitted above CIF Rs. 500/kg. The proper officer's rejection of declared value and subsequent redetermination was found unsustainable. The tribunal emphasized that Free Trade Agreements under SAFTA and GATT formed part of international law, and the government had granted concessional BCD rates. The Commissioner's enforcement of non-tariff restrictions through Minimum Import Price was deemed inappropriate. Consequently, penalties imposed under Sections 112 and 114AA of Customs Act were set aside, and the original declared assessable value was restored.
CESTAT ruled in favor of the appellant regarding valuation of imported black pepper. The tribunal held that the goods were not absolutely prohibited under DGFT Notification 21/2015-2020, as imports were permitted above CIF Rs. 500/kg. The proper officer's rejection of declared value and subsequent redetermination was found unsustainable. The tribunal emphasized that Free Trade Agreements under SAFTA and GATT formed part of international law, and the government had granted concessional BCD rates. The Commissioner's enforcement of non-tariff restrictions through Minimum Import Price was deemed inappropriate. Consequently, penalties imposed under Sections 112 and 114AA of Customs Act were set aside, and the original declared assessable value was restored.
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