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 adjudicated a dispute regarding duty demand based on re-classification of Benzene and Toluene from chapter 29 to chapter 27. The court found the re-classification invalid due to procedural irregularities, including belated sampling, non-disclosure of complete test reports, and absence of a proper provisional assessment order under Rule 9B. The court emphasized that Rule 56 requires proper communication of test results and opportunity for re-testing. Without an explicit order under Rule 9B and proper bond execution, the assessments could not be deemed provisional. Consequently, the SC allowed the appeal, invalidating the department's duty demand and re-classification, thereby protecting the appellant's original classification and assessment.
The SC adjudicated a dispute regarding duty demand based on re-classification of Benzene and Toluene from chapter 29 to chapter 27. The court found the re-classification invalid due to procedural irregularities, including belated sampling, non-disclosure of complete test reports, and absence of a proper provisional assessment order under Rule 9B. The court emphasized that Rule 56 requires proper communication of test results and opportunity for re-testing. Without an explicit order under Rule 9B and proper bond execution, the assessments could not be deemed provisional. Consequently, the SC allowed the appeal, invalidating the department's duty demand and re-classification, thereby protecting the appellant's original classification and assessment.
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