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 ruled that the enhancement of imported goods' value under Rule 5 of Customs Valuation Rules, 2007 was procedurally incorrect. The lower authorities failed to properly reject the declared value per Rule 12 and prematurely applied Rule 5. Reliance on Central Board of Excise and Customs database did not satisfy legal requirements for value rejection. Consequently, the tribunal set aside the order challenging duty and penalty assessments, effectively allowing the appellant's appeal and invalidating the previous administrative determination.
CESTAT ruled that the enhancement of imported goods' value under Rule 5 of Customs Valuation Rules, 2007 was procedurally incorrect. The lower authorities failed to properly reject the declared value per Rule 12 and prematurely applied Rule 5. Reliance on Central Board of Excise and Customs database did not satisfy legal requirements for value rejection. Consequently, the tribunal set aside the order challenging duty and penalty assessments, effectively allowing the appellant's appeal and invalidating the previous administrative determination.
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