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 allowed the appeal of M/s X against customs demand under the EPCG scheme, holding that issuance of EODCs by DGFT was determinative of fulfilment of export obligation for the three imported cars. The Bench distinguished the Surya Samudra precedent, noting that, unlike in that case, the vehicles were not transferred and remained with the appellant, and that registration as commercial vehicles was not a pre-condition under the relevant notification for imports made in 2001-2003. CESTAT accepted that foreign exchange earned from tour and travel-related services, including commissions and fees, satisfied the export obligation, supported by logbooks evidencing tourism use of the cars. As the Department produced no contrary evidence, the impugned order was set aside and all consequential demands and penalties were quashed.
CESTAT allowed the appeal of M/s X against customs demand under the EPCG scheme, holding that issuance of EODCs by DGFT was determinative of fulfilment of export obligation for the three imported cars. The Bench distinguished the Surya Samudra precedent, noting that, unlike in that case, the vehicles were not transferred and remained with the appellant, and that registration as commercial vehicles was not a pre-condition under the relevant notification for imports made in 2001-2003. CESTAT accepted that foreign exchange earned from tour and travel-related services, including commissions and fees, satisfied the export obligation, supported by logbooks evidencing tourism use of the cars. As the Department produced no contrary evidence, the impugned order was set aside and all consequential demands and penalties were quashed.
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