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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The HC dismissed an appeal concerning seized betel nuts that were destroyed while in Customs custody. The court determined that Customs authorities failed to discharge their burden of proving how goods valued at 88 lakhs at seizure became unfit for human consumption during the one-and-a-half years in their custody. The respondent was neither present during testing nor provided with reports to seek a second opinion. The HC established that Customs authorities are liable for deterioration of goods in their custody without satisfactory explanation, seizure-time valuation is binding absent grave error, and authorities must inform owners before destroying contested goods. Customs was directed to compensate the respondent within four weeks.
The HC dismissed an appeal concerning seized betel nuts that were destroyed while in Customs custody. The court determined that Customs authorities failed to discharge their burden of proving how goods valued at 88 lakhs at seizure became unfit for human consumption during the one-and-a-half years in their custody. The respondent was neither present during testing nor provided with reports to seek a second opinion. The HC established that Customs authorities are liable for deterioration of goods in their custody without satisfactory explanation, seizure-time valuation is binding absent grave error, and authorities must inform owners before destroying contested goods. Customs was directed to compensate the respondent within four weeks.
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