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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CESTAT held that confiscation and penalties under ss.112(a)(i) and 114AA, imposed for alleged mis-declaration of imported base oil as kerosene, could not be sustained where material relied upon tested only 7-8 of the 10 BIS-specified characteristics. The Commissioner(A) had relied on a HC decision permitting partial-parameter testing, but that approach was reversed by the SC, which requires satisfaction of all prescribed characteristics. The department's contention that the SC ruling was inapplicable was rejected. Because the testing did not establish that the imported product met kerosene characteristics in full, the goods were not liable to confiscation and statutory penalties; the impugned order is set aside and the appeal is allowed.
CESTAT held that confiscation and penalties under ss.112(a)(i) and 114AA, imposed for alleged mis-declaration of imported base oil as kerosene, could not be sustained where material relied upon tested only 7-8 of the 10 BIS-specified characteristics. The Commissioner(A) had relied on a HC decision permitting partial-parameter testing, but that approach was reversed by the SC, which requires satisfaction of all prescribed characteristics. The department's contention that the SC ruling was inapplicable was rejected. Because the testing did not establish that the imported product met kerosene characteristics in full, the goods were not liable to confiscation and statutory penalties; the impugned order is set aside and the appeal is allowed.
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