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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AT overturned penalty imposed under FEMA Section 3(c) related to alleged Hawala transactions. Initially, Punjab Police seized funds and ED initiated investigation. While statements were recorded, the respondent retracted testimony at first opportunity. Investigation revealed incomplete car purchase transaction and appellant provided CA-certified cash book documenting fund source. AT found Adjudicating Officer failed to establish clear chain of events, trace key witness Rocky Singh, or document money trail. Given insufficient evidence and procedural gaps, AT directed waiver of penalty and release of confiscated amount within 30 days, highlighting importance of thorough investigation and documentary proof in FEMA cases.
AT overturned penalty imposed under FEMA Section 3(c) related to alleged Hawala transactions. Initially, Punjab Police seized funds and ED initiated investigation. While statements were recorded, the respondent retracted testimony at first opportunity. Investigation revealed incomplete car purchase transaction and appellant provided CA-certified cash book documenting fund source. AT found Adjudicating Officer failed to establish clear chain of events, trace key witness Rocky Singh, or document money trail. Given insufficient evidence and procedural gaps, AT directed waiver of penalty and release of confiscated amount within 30 days, highlighting importance of thorough investigation and documentary proof in FEMA cases.
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