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 the Commissioner's re-determination of assessable value was unsustainable as the premium addition was computed without objective, verifiable data contrary to Rule 10(2) of the CVR, 2007; the Clarksons Shipping Weekly data submitted by the appellant company is admissible and the matter is remanded to the adjudicating authority to verify that data and redetermine freight, insurance and premium from the port of loading to NMP, then quantify differential duty. Confiscation of the goods is affirmed due to misdeclaration of country of origin. Penalty under s.112(a) CA, 1962 on the appellant company is sustained; imposition of penalty under s.114AA on the company is unwarranted and set aside. Personal penalty on the Vice President is set aside for lack of evidence. Appeal disposed by remand.
CESTAT held that the Commissioner's re-determination of assessable value was unsustainable as the premium addition was computed without objective, verifiable data contrary to Rule 10(2) of the CVR, 2007; the Clarksons Shipping Weekly data submitted by the appellant company is admissible and the matter is remanded to the adjudicating authority to verify that data and redetermine freight, insurance and premium from the port of loading to NMP, then quantify differential duty. Confiscation of the goods is affirmed due to misdeclaration of country of origin. Penalty under s.112(a) CA, 1962 on the appellant company is sustained; imposition of penalty under s.114AA on the company is unwarranted and set aside. Personal penalty on the Vice President is set aside for lack of evidence. Appeal disposed by remand.
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