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...
The HC quashed the impugned order-in-original issued by the first respondent due to a 17-year inordinate delay in issuing the show cause notice concerning non-fulfillment of export obligations under the Advance License Scheme. The petitioner demonstrated partial compliance by producing EODCs for 13 out of 24 licenses and explained the unavailability of the remaining certificates due to the extensive lapse of time. The court held that the delay far exceeded the five-year period prescribed under Rule 226A of the Central Excise Rules and related CBIC circulars, rendering the notice unsustainable. Consequently, the writ petition was allowed, and the enforcement action premised on the delayed notice was set aside.
The HC quashed the impugned order-in-original issued by the first respondent due to a 17-year inordinate delay in issuing the show cause notice concerning non-fulfillment of export obligations under the Advance License Scheme. The petitioner demonstrated partial compliance by producing EODCs for 13 out of 24 licenses and explained the unavailability of the remaining certificates due to the extensive lapse of time. The court held that the delay far exceeded the five-year period prescribed under Rule 226A of the Central Excise Rules and related CBIC circulars, rendering the notice unsustainable. Consequently, the writ petition was allowed, and the enforcement action premised on the delayed notice was set aside.
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