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...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The AT dismissed both appeals for non-compliance with the second proviso to Section 19(1) of FEMA, 1999. The Appellants failed to make the requisite pre-deposit of penalty amounts, did not apply for an extension of time, and produced no stay order or orders from any higher judicial forum to justify non-compliance. The record further showed an absence of communication between the Appellants and their counsel. On that basis the AT held the appeals to be non-maintainable and declined to entertain merits, resulting in outright dismissal of both appeals.
The AT dismissed both appeals for non-compliance with the second proviso to Section 19(1) of FEMA, 1999. The Appellants failed to make the requisite pre-deposit of penalty amounts, did not apply for an extension of time, and produced no stay order or orders from any higher judicial forum to justify non-compliance. The record further showed an absence of communication between the Appellants and their counsel. On that basis the AT held the appeals to be non-maintainable and declined to entertain merits, resulting in outright dismissal of both appeals.
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