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 set aside the penalty order imposing a Rs. 1 crore fine on the appellant under section 114 of the Customs Act read with section 13 of FEMA, which was based solely on statements recorded under section 108 of the Customs Act. The Tribunal rejected the department's contention that relief should be denied as co-accused had not appealed, affirming that the appellant's right to appeal is independent. Consequently, the penalty imposed by the Commissioner on 02.02.2021 was quashed and the appellant's appeal was allowed.
The CESTAT set aside the penalty order imposing a Rs. 1 crore fine on the appellant under section 114 of the Customs Act read with section 13 of FEMA, which was based solely on statements recorded under section 108 of the Customs Act. The Tribunal rejected the department's contention that relief should be denied as co-accused had not appealed, affirming that the appellant's right to appeal is independent. Consequently, the penalty imposed by the Commissioner on 02.02.2021 was quashed and the appellant's appeal was allowed.
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