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 classification of imported relays. The tribunal distinguished between CTH 8536 4900 covering simplicitor relays used in telecommunication and signaling apparatus, and CTH 8537 1000 encompassing complex control boards with multiple functions. The imported F650 Feeder Protection and Bay Controller System constituted multifunctional products properly classifiable under CTH 8537 1000, not qualifying for exemption under N/N. 21/2002-Customs which applies only to simple relays. Revenue's invocation of extended limitation period failed as no suppression or misdeclaration occurred when classification was based on expert opinion and technical literature. The demand fell beyond normal limitation period and could not be sustained. The appellant's classification under CTH 8537 1000 was upheld, confirming ineligibility for the customs notification exemption.
CESTAT allowed the appeal regarding classification of imported relays. The tribunal distinguished between CTH 8536 4900 covering simplicitor relays used in telecommunication and signaling apparatus, and CTH 8537 1000 encompassing complex control boards with multiple functions. The imported F650 Feeder Protection and Bay Controller System constituted multifunctional products properly classifiable under CTH 8537 1000, not qualifying for exemption under N/N. 21/2002-Customs which applies only to simple relays. Revenue's invocation of extended limitation period failed as no suppression or misdeclaration occurred when classification was based on expert opinion and technical literature. The demand fell beyond normal limitation period and could not be sustained. The appellant's classification under CTH 8537 1000 was upheld, confirming ineligibility for the customs notification exemption.
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