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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The AT upheld FEMA violations against the appellant for misdeclaration and gross undervaluation of imported reprocessed plastic granules, finding contravention proved on preponderance of probabilities based on email evidence and witness statements. The tribunal confirmed the appellant instructed overseas suppliers to misclassify goods and understate values, utilizing third-party entities for commission-based imports. While upholding Section 3(d) violations, the AT reduced the penalty from Rs. 60,00,000 to Rs. 30,00,000, finding the original quantum excessive. The tribunal maintained Rs. 10,000 penalties for non-surrender of foreign exchange under prescribed timelines and unauthorized possession of foreign currency totaling USD 780, Malaysian Ringgit 2360, and Singapore Dollar 280, ordering confiscation of the undocumented foreign exchange under Section 13(2) FEMA.
The AT upheld FEMA violations against the appellant for misdeclaration and gross undervaluation of imported reprocessed plastic granules, finding contravention proved on preponderance of probabilities based on email evidence and witness statements. The tribunal confirmed the appellant instructed overseas suppliers to misclassify goods and understate values, utilizing third-party entities for commission-based imports. While upholding Section 3(d) violations, the AT reduced the penalty from Rs. 60,00,000 to Rs. 30,00,000, finding the original quantum excessive. The tribunal maintained Rs. 10,000 penalties for non-surrender of foreign exchange under prescribed timelines and unauthorized possession of foreign currency totaling USD 780, Malaysian Ringgit 2360, and Singapore Dollar 280, ordering confiscation of the undocumented foreign exchange under Section 13(2) FEMA.
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