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 dismissed the appeal and upheld a Rs.5,00,000 penalty imposed under s.112, Customs Act, arising from importation of 2 GB SD memory cards with undervalued invoices resulting in substantial duty evasion. The Tribunal found the appellant undisputedly aware of and instrumental in the undervaluation scheme: he managed electronic communications (e-mail/WhatsApp), transmitted invoices, and acted on instructions for parallel invoicing while his illiterate relative was identified as the mastermind. Given the appellant's active participation and pivotal role in facilitating under-invoicing and evasion, the CESTAT concluded there was no basis to interfere with the penalty order, and the appeal was dismissed.
CESTAT dismissed the appeal and upheld a Rs.5,00,000 penalty imposed under s.112, Customs Act, arising from importation of 2 GB SD memory cards with undervalued invoices resulting in substantial duty evasion. The Tribunal found the appellant undisputedly aware of and instrumental in the undervaluation scheme: he managed electronic communications (e-mail/WhatsApp), transmitted invoices, and acted on instructions for parallel invoicing while his illiterate relative was identified as the mastermind. Given the appellant's active participation and pivotal role in facilitating under-invoicing and evasion, the CESTAT concluded there was no basis to interfere with the penalty order, and the appeal was dismissed.
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