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 proforma invoices alleged to have been recovered from an individual's mobile were not proved and thus inadmissible against the appellants; reliance on untested statements without permitting cross-examination vitiated the adjudication. The Tribunal found no material to establish mis-description, mis-classification or undervaluation of imported plywood and noted absence of testing or contrary bills of entry. Consequently, confiscation orders and redemption fines insofar as they related to specified bills of entry for Appellant-1, Appellant-2 and Appellant-3 were set aside. Various penalties imposed on the appellants were held unsustainable and quashed. A penalty levied on the proprietorship firm did not entail a separate penalty on its proprietor; any separate appeal by the proprietor was not before the Tribunal, so those aspects were left undisturbed. Appeal disposed.
CESTAT held that proforma invoices alleged to have been recovered from an individual's mobile were not proved and thus inadmissible against the appellants; reliance on untested statements without permitting cross-examination vitiated the adjudication. The Tribunal found no material to establish mis-description, mis-classification or undervaluation of imported plywood and noted absence of testing or contrary bills of entry. Consequently, confiscation orders and redemption fines insofar as they related to specified bills of entry for Appellant-1, Appellant-2 and Appellant-3 were set aside. Various penalties imposed on the appellants were held unsustainable and quashed. A penalty levied on the proprietorship firm did not entail a separate penalty on its proprietor; any separate appeal by the proprietor was not before the Tribunal, so those aspects were left undisturbed. Appeal disposed.
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