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 appellant's appeal regarding classification of manufactured goods including Perk, ULTA Perk, Perk Poppers and Wafer Uncoated Reject under Central Excise Tariff Act, 1985. The tribunal held that products qualify for classification under ETI 1905 32 90 rather than ETI 1905 32 11 as claimed by department. Products were determined to be "wafer biscuits" rather than "communion wafers" since they neither possess characteristics of communion wafers nor serve Eucharist purposes. Consequently, appellant entitled to benefit of exemption notification and reduced excise duty rate. Department's demand for excise duty, interest recovery, and penalty imposition cannot be sustained. Principal Commissioner's order dated 12.12.2019 set aside. Appeal allowed with appellant receiving favorable classification and duty exemption benefits.
CESTAT allowed appellant's appeal regarding classification of manufactured goods including Perk, ULTA Perk, Perk Poppers and Wafer Uncoated Reject under Central Excise Tariff Act, 1985. The tribunal held that products qualify for classification under ETI 1905 32 90 rather than ETI 1905 32 11 as claimed by department. Products were determined to be "wafer biscuits" rather than "communion wafers" since they neither possess characteristics of communion wafers nor serve Eucharist purposes. Consequently, appellant entitled to benefit of exemption notification and reduced excise duty rate. Department's demand for excise duty, interest recovery, and penalty imposition cannot be sustained. Principal Commissioner's order dated 12.12.2019 set aside. Appeal allowed with appellant receiving favorable classification and duty exemption benefits.
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