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 HC held that the requirement of pre-consultation under the CBEC circular for matters involving demands exceeding Rs.50 lakhs is mandatory; absence of effective pre-consultation violated principles of natural justice. The court found the asserted pre-consultation notice was not actually received and that pandemic-related circumstances did not cure the procedural lapse. Consequently, the impugned show cause notice and the consequent original order were quashed and set aside. The Petitioner's challenge was allowed, and the Respondents were granted liberty to initiate and conduct the mandatory pre-consultation afresh in accordance with the circular and applicable law, after which further proceedings may be undertaken.
The HC held that the requirement of pre-consultation under the CBEC circular for matters involving demands exceeding Rs.50 lakhs is mandatory; absence of effective pre-consultation violated principles of natural justice. The court found the asserted pre-consultation notice was not actually received and that pandemic-related circumstances did not cure the procedural lapse. Consequently, the impugned show cause notice and the consequent original order were quashed and set aside. The Petitioner's challenge was allowed, and the Respondents were granted liberty to initiate and conduct the mandatory pre-consultation afresh in accordance with the circular and applicable law, after which further proceedings may be undertaken.
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