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 set aside the Commissioner's order confiscating currency worth Rs.1.29 crores under Section 121 of the Customs Act, 1962, and vacated penalties imposed on all appellants. The Tribunal determined that Revenue failed to discharge its burden of establishing that the seized currency constituted proceeds from smuggled gold. Despite suspicions arising from the concealment of cash and recovery of loose slips indicating gold quantities, the Commissioner's findings based on preponderance of probability were deemed insufficient without corroborative independent evidence. The currency was ordered to be released to the owner, Shri K.V. Kunhimohammed, as Revenue could not substantiate its allegations with adequate proof.
CESTAT set aside the Commissioner's order confiscating currency worth Rs.1.29 crores under Section 121 of the Customs Act, 1962, and vacated penalties imposed on all appellants. The Tribunal determined that Revenue failed to discharge its burden of establishing that the seized currency constituted proceeds from smuggled gold. Despite suspicions arising from the concealment of cash and recovery of loose slips indicating gold quantities, the Commissioner's findings based on preponderance of probability were deemed insufficient without corroborative independent evidence. The currency was ordered to be released to the owner, Shri K.V. Kunhimohammed, as Revenue could not substantiate its allegations with adequate proof.
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