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 affirmed classification of locomotive components (fuel filter assembly, water pump assembly, cylinder head sub-assembly, cylinder liner stud assembly) under Chapter Heading 8607 as railway locomotive parts. Applying Note 3 of Section XVII and General Rules for Tariff Interpretation Rule 3(a), coupled with precedent from Westinghouse Saxby case, the Tribunal determined classification based on sole/principal use test. Extended period limitation under Section 11(4) CEA rejected due to complexity of parts classification as acknowledged in Customs Advisory 01/2022. Respondent entitled to concessional duty rate under N/N. 12/2016-CE. Revenue's appeal dismissed, upholding lower authority's reliance on Board Circular dated 20.10.2000.
CESTAT affirmed classification of locomotive components (fuel filter assembly, water pump assembly, cylinder head sub-assembly, cylinder liner stud assembly) under Chapter Heading 8607 as railway locomotive parts. Applying Note 3 of Section XVII and General Rules for Tariff Interpretation Rule 3(a), coupled with precedent from Westinghouse Saxby case, the Tribunal determined classification based on sole/principal use test. Extended period limitation under Section 11(4) CEA rejected due to complexity of parts classification as acknowledged in Customs Advisory 01/2022. Respondent entitled to concessional duty rate under N/N. 12/2016-CE. Revenue's appeal dismissed, upholding lower authority's reliance on Board Circular dated 20.10.2000.
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