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 upheld the absolute confiscation of seized gold valued at 99.93% to 99.96% purity, rejecting the appellants' invoices indicating 99.5% purity as unreliable evidence of licit procurement under Section 123 of the Customs Act, 1962. The appellants failed to discharge the burden of proof regarding lawful acquisition, and the gold was deemed smuggled. The Tribunal found no prejudice in the denial of cross-examination on witness statements, as these were not relied upon to justify confiscation. Penalties imposed on appellant no. 3 for submission of forged documents and on co-appellants for their respective roles were affirmed. The impugned order was found free of infirmities, and the appeal was dismissed in its entirety.
The CESTAT upheld the absolute confiscation of seized gold valued at 99.93% to 99.96% purity, rejecting the appellants' invoices indicating 99.5% purity as unreliable evidence of licit procurement under Section 123 of the Customs Act, 1962. The appellants failed to discharge the burden of proof regarding lawful acquisition, and the gold was deemed smuggled. The Tribunal found no prejudice in the denial of cross-examination on witness statements, as these were not relied upon to justify confiscation. Penalties imposed on appellant no. 3 for submission of forged documents and on co-appellants for their respective roles were affirmed. The impugned order was found free of infirmities, and the appeal was dismissed in its entirety.
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