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...
HC adjudicated a customs duty dispute involving delayed provisional assessment. The tribunal was found to have jurisdiction to grant compensatory interest under Section 27A of the Customs Act, 1962. The court emphasized substantial justice over technical objections, modifying the original interest rate from 12% to 6% per annum as per Notification No. 75/2003. The tribunal's power to review and rectify lower authority decisions was affirmed, rejecting procedural impediments. The tax appeal was ultimately disposed of, with the court prioritizing equitable resolution and mandating interest payment at the reduced rate.
HC adjudicated a customs duty dispute involving delayed provisional assessment. The tribunal was found to have jurisdiction to grant compensatory interest under Section 27A of the Customs Act, 1962. The court emphasized substantial justice over technical objections, modifying the original interest rate from 12% to 6% per annum as per Notification No. 75/2003. The tribunal's power to review and rectify lower authority decisions was affirmed, rejecting procedural impediments. The tax appeal was ultimately disposed of, with the court prioritizing equitable resolution and mandating interest payment at the reduced rate.
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