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...
Page of 4828
Press 'Enter' after typing page number.
161 to 180 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The CESTAT set aside the cancellation of the Public Bonded Warehouse License under Section 58(B) of the Customs Act, 1962, imposed due to alleged shortages detected during stock verification. The Tribunal noted that customs duty amounting to Rs. 17.14 lakhs was deposited prior to the verification, which the Department failed to consider, and found discrepancies in the reported shortage quantity. There was no evidence of collusion between the appellant and a third party for clandestine removal of goods. Given the appellant was not a habitual offender and had already been penalized with the maximum fine of Rs. 4 lakhs under Section 117, the Tribunal held that cancellation of the license was disproportionate and would unjustly deprive the appellant of livelihood. Consequently, the penalty was upheld, but the license cancellation was quashed, allowing the appeal.
The CESTAT set aside the cancellation of the Public Bonded Warehouse License under Section 58(B) of the Customs Act, 1962, imposed due to alleged shortages detected during stock verification. The Tribunal noted that customs duty amounting to Rs. 17.14 lakhs was deposited prior to the verification, which the Department failed to consider, and found discrepancies in the reported shortage quantity. There was no evidence of collusion between the appellant and a third party for clandestine removal of goods. Given the appellant was not a habitual offender and had already been penalized with the maximum fine of Rs. 4 lakhs under Section 117, the Tribunal held that cancellation of the license was disproportionate and would unjustly deprive the appellant of livelihood. Consequently, the penalty was upheld, but the license cancellation was quashed, allowing the appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
