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 upheld the impugned advance ruling, finding the classification of the imported guide rails under Customs Tariff Heading 8708 9900 sustainable. It ruled that the scope of appeal under s.28KA, Customs Act, 1962 is narrowly confined because advance rulings are binding on persons specified in s.28J; interference is permissible only for palpable arbitrariness, irrationality, absence of reason, violation of principles of natural justice, patent illegality, or consideration of irrelevant matters. The court emphasized the trade-facilitative purpose of the advance-ruling regime and that such rulings generally bind for three years subject to change of law or facts. Given absence of procedural irregularity and s.130E(b) constraints on appellate jurisdiction, the appeal is dismissed.
The HC upheld the impugned advance ruling, finding the classification of the imported guide rails under Customs Tariff Heading 8708 9900 sustainable. It ruled that the scope of appeal under s.28KA, Customs Act, 1962 is narrowly confined because advance rulings are binding on persons specified in s.28J; interference is permissible only for palpable arbitrariness, irrationality, absence of reason, violation of principles of natural justice, patent illegality, or consideration of irrelevant matters. The court emphasized the trade-facilitative purpose of the advance-ruling regime and that such rulings generally bind for three years subject to change of law or facts. Given absence of procedural irregularity and s.130E(b) constraints on appellate jurisdiction, the appeal is dismissed.
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