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 dismissed the appeal as not maintainable, holding that the Instruction dated 02.11.2023 permits appeals irrespective of the monetary threshold only where one of three conditions is satisfied-challenge to constitutional validity, judicial declaration of illegality of a Notification/Instruction/Order/Circular, or legal/recurring classification and refund issues-and that "smuggled goods" is not one of those exceptions. The court rejected judicially reading "smuggled goods" into the Instruction, finding the text clear and unambiguous. Even assuming smuggling were includable, the CESTAT had determined the gold was not shown to be smuggled and the total amount including penalty (below Rs.1 crore) fell short of the threshold; accordingly the appeal was dismissed as not maintainable.
The HC dismissed the appeal as not maintainable, holding that the Instruction dated 02.11.2023 permits appeals irrespective of the monetary threshold only where one of three conditions is satisfied-challenge to constitutional validity, judicial declaration of illegality of a Notification/Instruction/Order/Circular, or legal/recurring classification and refund issues-and that "smuggled goods" is not one of those exceptions. The court rejected judicially reading "smuggled goods" into the Instruction, finding the text clear and unambiguous. Even assuming smuggling were includable, the CESTAT had determined the gold was not shown to be smuggled and the total amount including penalty (below Rs.1 crore) fell short of the threshold; accordingly the appeal was dismissed as not maintainable.
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