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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
CESTAT adjudicated a customs duty and penalty case involving aircraft import exemption. The tribunal held that the exemption notification permits use of imported aircraft for both Non-Scheduled (Passenger) and Non-Scheduled (Charter) Services. The appellant's leasing of aircraft to other entities does not violate exemption conditions. The Commissioner's findings were deemed unsustainable, and the penalty imposed under sections 112 and 140 of the Customs Act was set aside. The tribunal allowed the customs appeals, effectively releasing the appellant from the disputed customs duty and penalties, and affirming a broader interpretation of the exemption notification's operational scope.
CESTAT adjudicated a customs duty and penalty case involving aircraft import exemption. The tribunal held that the exemption notification permits use of imported aircraft for both Non-Scheduled (Passenger) and Non-Scheduled (Charter) Services. The appellant's leasing of aircraft to other entities does not violate exemption conditions. The Commissioner's findings were deemed unsustainable, and the penalty imposed under sections 112 and 140 of the Customs Act was set aside. The tribunal allowed the customs appeals, effectively releasing the appellant from the disputed customs duty and penalties, and affirming a broader interpretation of the exemption notification's operational scope.
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