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 reversed the lower authority's decision enhancing the value of imported goods by reclassifying Heavy Melting Scrap as serviceable used iron pipes. The Tribunal held that Heavy Melting Scrap, comprising rusted and corroded pipes, is correctly classified as scrap given its unusable condition in its present form. Reliance on the Chartered Engineer's report confirmed the pipes were discarded and not serviceable for their intended purpose. Consequently, valuation must be based on scrap value rather than potential future usability. The Tribunal distinguished the case from precedents involving used goods that were not scrap, emphasizing the current unusability due to rust and corrosion. The impugned order enhancing the value was set aside and the appeal was allowed.
The CESTAT reversed the lower authority's decision enhancing the value of imported goods by reclassifying Heavy Melting Scrap as serviceable used iron pipes. The Tribunal held that Heavy Melting Scrap, comprising rusted and corroded pipes, is correctly classified as scrap given its unusable condition in its present form. Reliance on the Chartered Engineer's report confirmed the pipes were discarded and not serviceable for their intended purpose. Consequently, valuation must be based on scrap value rather than potential future usability. The Tribunal distinguished the case from precedents involving used goods that were not scrap, emphasizing the current unusability due to rust and corrosion. The impugned order enhancing the value was set aside and the appeal was allowed.
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