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 CESTAT ruled that Ziking (slag), a by-product emerging during Silico Manganese manufacture, is not subject to excise duty. Following precedents in Monnet Ispat and Haryana Steel cases, the Tribunal determined that by-products involuntarily produced during manufacturing are not excisable goods. The demand of Rs.23,52,292/- on Ziking sales was set aside. Additionally, the Tribunal rejected the alleged shortage of Silico Manganese stock, finding that the verification was conducted merely on "eye estimation basis," which was insufficient to establish a shortage. Consequently, the demand of Rs.6,42,584/- was also set aside. With no sustainable demands, the Tribunal ruled that no penalties were imposable on the appellants. Appeal allowed.
The CESTAT ruled that Ziking (slag), a by-product emerging during Silico Manganese manufacture, is not subject to excise duty. Following precedents in Monnet Ispat and Haryana Steel cases, the Tribunal determined that by-products involuntarily produced during manufacturing are not excisable goods. The demand of Rs.23,52,292/- on Ziking sales was set aside. Additionally, the Tribunal rejected the alleged shortage of Silico Manganese stock, finding that the verification was conducted merely on "eye estimation basis," which was insufficient to establish a shortage. Consequently, the demand of Rs.6,42,584/- was also set aside. With no sustainable demands, the Tribunal ruled that no penalties were imposable on the appellants. Appeal allowed.
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