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 CESTAT allowed the appeal, setting aside the impugned orders denying exemption under Notification No. 12/2012-CE for imported Travertine slabs. The Tribunal held that Travertine, classified under CTH 68022190, falls within the scope of "marble slabs and tiles" as per the notification. It noted that earlier Notification No. 4/2006-CE did not include this tariff entry, but Notification No. 12/2012-CE explicitly inserted it following trade representations. Since Travertine is a variety of calcareous stone and a species of marble, it qualifies for the concessional rate of additional customs duty. The Revenue's denial based solely on the description excluding Travertine was found unsustainable. Consequently, the benefit of the concessional duty was extended to the imported goods, and the appeal was allowed.
The CESTAT allowed the appeal, setting aside the impugned orders denying exemption under Notification No. 12/2012-CE for imported Travertine slabs. The Tribunal held that Travertine, classified under CTH 68022190, falls within the scope of "marble slabs and tiles" as per the notification. It noted that earlier Notification No. 4/2006-CE did not include this tariff entry, but Notification No. 12/2012-CE explicitly inserted it following trade representations. Since Travertine is a variety of calcareous stone and a species of marble, it qualifies for the concessional rate of additional customs duty. The Revenue's denial based solely on the description excluding Travertine was found unsustainable. Consequently, the benefit of the concessional duty was extended to the imported goods, and the appeal was allowed.
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