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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CESTAT allowed the appeal regarding seizure of six gold bars weighing 499.17 grams from appellant's possession at Guwahati Railway Station. The tribunal held that 99.5% purity alone cannot establish foreign origin without corroborative evidence. Since this was a town seizure, Section 123 presumption was inapplicable, placing burden on department to prove smuggling. Department failed to establish foreign origin or smuggled nature with evidence. Appellant provided documentary proof of domestic purchase from M/s. Nirmala Trading Company and demonstrated internal transfer between business units. Minor variations in employee statements could not override documentary evidence of licit purchase. Confiscation order and penalty of Rs.1,60,000 under Section 112(b)(i) of Customs Act, 1962 were set aside due to established domestic purchase.
CESTAT allowed the appeal regarding seizure of six gold bars weighing 499.17 grams from appellant's possession at Guwahati Railway Station. The tribunal held that 99.5% purity alone cannot establish foreign origin without corroborative evidence. Since this was a town seizure, Section 123 presumption was inapplicable, placing burden on department to prove smuggling. Department failed to establish foreign origin or smuggled nature with evidence. Appellant provided documentary proof of domestic purchase from M/s. Nirmala Trading Company and demonstrated internal transfer between business units. Minor variations in employee statements could not override documentary evidence of licit purchase. Confiscation order and penalty of Rs.1,60,000 under Section 112(b)(i) of Customs Act, 1962 were set aside due to established domestic purchase.
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