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 AT set aside penalties of Rs.4,00,000/- and Rs.6,00,000/- imposed on the appellant under FEMA. Despite allegations that the appellant assisted in preparing forged documents for M/s Prominent Exim's exports, the Tribunal found insufficient evidence to establish contravention of Sections 3(b) and 3(d) of FEMA 1999. The appellant, working as a Custom Clearance Agent, merely processed export documentation and received commission (15% of the 40% DEPB received by Vinod Chitalia). The Tribunal concluded that receiving payment for processing export documents did not constitute a violation of the specified FEMA provisions, and accordingly allowed the appeal.
The AT set aside penalties of Rs.4,00,000/- and Rs.6,00,000/- imposed on the appellant under FEMA. Despite allegations that the appellant assisted in preparing forged documents for M/s Prominent Exim's exports, the Tribunal found insufficient evidence to establish contravention of Sections 3(b) and 3(d) of FEMA 1999. The appellant, working as a Custom Clearance Agent, merely processed export documentation and received commission (15% of the 40% DEPB received by Vinod Chitalia). The Tribunal concluded that receiving payment for processing export documents did not constitute a violation of the specified FEMA provisions, and accordingly allowed the appeal.
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