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 held that the demand for differential duty based on MRP on imported pre-packaged spares/components intended solely for industrial use is unsustainable, as the relevant Rules exclude such packages from MRP requirements. The Tribunal emphasized that imported packages exceeding 25 kgs are exempt from MRP affixation under Rule 2A(3) of the PC Rules. Further, the invocation of the extended period of limitation for duty recovery was rejected, as there was no evidence of suppression or mis-declaration by the appellant, a government PSU acting in good faith. The Tribunal found no prima facie case to justify extended limitation, confining duty liability to the normal period. Consequently, the appeal was allowed, and the impugned order confirming duty demand and extended limitation was set aside.
The CESTAT held that the demand for differential duty based on MRP on imported pre-packaged spares/components intended solely for industrial use is unsustainable, as the relevant Rules exclude such packages from MRP requirements. The Tribunal emphasized that imported packages exceeding 25 kgs are exempt from MRP affixation under Rule 2A(3) of the PC Rules. Further, the invocation of the extended period of limitation for duty recovery was rejected, as there was no evidence of suppression or mis-declaration by the appellant, a government PSU acting in good faith. The Tribunal found no prima facie case to justify extended limitation, confining duty liability to the normal period. Consequently, the appeal was allowed, and the impugned order confirming duty demand and extended limitation was set aside.
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