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 SC determined that imported goods could not be classified as High Speed Diesel (HSD) based on inconclusive laboratory tests. The Court found that only 8 of 21 required parameters under IS1460:2005 were tested, and even these results were ambiguous, merely indicating the sample had "characteristics of HSD" rather than confirming it was HSD. The Court rejected the High Court's "preponderance of probability" standard, holding that classification under the Customs Tariff Act requires application of the "most akin" test with conclusive scientific evidence. Since the burden of proof rests with Customs authorities and the evidence was insufficient, the Court disposed of the appeal in favor of the appellants who claimed the goods were Base Oil.
The SC determined that imported goods could not be classified as High Speed Diesel (HSD) based on inconclusive laboratory tests. The Court found that only 8 of 21 required parameters under IS1460:2005 were tested, and even these results were ambiguous, merely indicating the sample had "characteristics of HSD" rather than confirming it was HSD. The Court rejected the High Court's "preponderance of probability" standard, holding that classification under the Customs Tariff Act requires application of the "most akin" test with conclusive scientific evidence. Since the burden of proof rests with Customs authorities and the evidence was insufficient, the Court disposed of the appeal in favor of the appellants who claimed the goods were Base Oil.
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