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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HC held that the 5th proviso to sub-rule (1) of Rule 27 of the SEZ Rules, 2006 is ultra vires the SEZ Act, 2005 and is struck down. The court concluded the impugned proviso effected a levy tantamount to customs (export) duty on movements from the DTA to SEZ without statutory authority; Section 55(2)(h) does not delegate power to impose customs duty on such removal and Section 30 expressly contemplates duty only on removal from SEZ to DTA. Consequently the delegated rule exceeded legislative competence and was declared void. The writ petition by the petitioner challenging the proviso is allowed and the provision is quashed.
HC held that the 5th proviso to sub-rule (1) of Rule 27 of the SEZ Rules, 2006 is ultra vires the SEZ Act, 2005 and is struck down. The court concluded the impugned proviso effected a levy tantamount to customs (export) duty on movements from the DTA to SEZ without statutory authority; Section 55(2)(h) does not delegate power to impose customs duty on such removal and Section 30 expressly contemplates duty only on removal from SEZ to DTA. Consequently the delegated rule exceeded legislative competence and was declared void. The writ petition by the petitioner challenging the proviso is allowed and the provision is quashed.
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