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 by the appellants and set aside the order confirming interest under section 11AB of the Central Excise Act; it held that duty determined under section 11A was paid within the statutory three-month period, no penalty was imposed and there was no finding of fraud, collusion, wilful misstatement, suppression of facts or statutory contravention that would attract pre-11.05.2001 interest. Interest under amended section 11AB (effective 11.05.2001) cannot be applied retrospectively to the part period 01.04.2000-10.05.2001. Consequently the demand for interest on transit-loss duty was unsustainable and the appeal was allowed in favour of the appellants.
The CESTAT allowed the appeal by the appellants and set aside the order confirming interest under section 11AB of the Central Excise Act; it held that duty determined under section 11A was paid within the statutory three-month period, no penalty was imposed and there was no finding of fraud, collusion, wilful misstatement, suppression of facts or statutory contravention that would attract pre-11.05.2001 interest. Interest under amended section 11AB (effective 11.05.2001) cannot be applied retrospectively to the part period 01.04.2000-10.05.2001. Consequently the demand for interest on transit-loss duty was unsustainable and the appeal was allowed in favour of the appellants.
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