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 upheld the impugned order in part, dismissing the appellant's challenge to rejection of a VCES declaration and second rectification application. The Tribunal found no breach of natural justice in denial of a further personal hearing, noting the appellant filed a second rectification months after the first and impermissibly sought to re-agitate the competent authority's VCES rejection instead of pursuing the prescribed appellate remedy. Errors alleged did not constitute an obvious error under section 74 of the Finance Act. On merits, the Tribunal agreed the services rendered to various public sector entities were taxable (subject to abatement under the valuation rules) and not exempt, and therefore sustained the demand while allowing the appeal only insofar as recorded in the impugned order.
CESTAT upheld the impugned order in part, dismissing the appellant's challenge to rejection of a VCES declaration and second rectification application. The Tribunal found no breach of natural justice in denial of a further personal hearing, noting the appellant filed a second rectification months after the first and impermissibly sought to re-agitate the competent authority's VCES rejection instead of pursuing the prescribed appellate remedy. Errors alleged did not constitute an obvious error under section 74 of the Finance Act. On merits, the Tribunal agreed the services rendered to various public sector entities were taxable (subject to abatement under the valuation rules) and not exempt, and therefore sustained the demand while allowing the appeal only insofar as recorded in the impugned order.
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