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 order of absolute confiscation and penalty under Sections 111(d), 112(b), and 120 of the Customs Act, 1962, concerning the seizure of 2 kgs of gold. The Tribunal held that non-compliance with mandatory procedural safeguards under Section 138B rendered the key statement inadmissible. Without this statement, the Revenue failed to establish that the gold was smuggled or of foreign origin, as required under Section 123. The appellant successfully discharged the burden of proof by producing invoices and corroborative seller confirmations evidencing lawful possession. Consequently, the penalty imposed under Section 112(b) was unsustainable due to lack of material proof of smuggling. The order of confiscation and penalty was therefore quashed, and the appeal was allowed.
The CESTAT allowed the appeal, setting aside the impugned order of absolute confiscation and penalty under Sections 111(d), 112(b), and 120 of the Customs Act, 1962, concerning the seizure of 2 kgs of gold. The Tribunal held that non-compliance with mandatory procedural safeguards under Section 138B rendered the key statement inadmissible. Without this statement, the Revenue failed to establish that the gold was smuggled or of foreign origin, as required under Section 123. The appellant successfully discharged the burden of proof by producing invoices and corroborative seller confirmations evidencing lawful possession. Consequently, the penalty imposed under Section 112(b) was unsustainable due to lack of material proof of smuggling. The order of confiscation and penalty was therefore quashed, and the appeal was allowed.
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