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 upheld the demand for differential duty on imported betel nuts from Indonesia, rejecting the appellant's objection regarding time limitation. The Tribunal confirmed that the original show-cause notice remained valid despite a corrigendum that merely consolidated duties without material changes. For Bill of Entry No.196600, the declared transaction value was properly rejected as examination revealed misdeclaration of both description and value of various betel nut varieties. However, for other bills of entry where goods had been cleared after assessment based on contemporaneous prices, reopening based on recovered fax messages and diary entries was deemed inappropriate. The confiscation was upheld but penalties were reduced to Rs. 3,50,000 (in lieu of confiscation) and Rs. 1,50,000 under Section 112(a) of the Customs Act.
CESTAT upheld the demand for differential duty on imported betel nuts from Indonesia, rejecting the appellant's objection regarding time limitation. The Tribunal confirmed that the original show-cause notice remained valid despite a corrigendum that merely consolidated duties without material changes. For Bill of Entry No.196600, the declared transaction value was properly rejected as examination revealed misdeclaration of both description and value of various betel nut varieties. However, for other bills of entry where goods had been cleared after assessment based on contemporaneous prices, reopening based on recovered fax messages and diary entries was deemed inappropriate. The confiscation was upheld but penalties were reduced to Rs. 3,50,000 (in lieu of confiscation) and Rs. 1,50,000 under Section 112(a) of the Customs Act.
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