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...
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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 the imported product, described in the Bills of Entry and supporting documents as "LPGbutane," is correctly classifiable as a mixture of propane and butane under heading 2711 1300, since butane predominates up to 98%. The contention of the appellant-importer that LPG cannot be imported as such and is always in the form of propane, butane, or their mixture was rejected, particularly in light of subsequent exemptions specifically extending to LPG, liquefied propane, liquefied butane, and their mixtures, evidencing distinct tariff treatment. Consequently, the benefit of Sl. No. 75(E) of Customs N/N. 21/2002 and Sl. No. 10 of Central Excise N/N. 4/2005 was denied, and the appeal was dismissed.
CESTAT held that the imported product, described in the Bills of Entry and supporting documents as "LPGbutane," is correctly classifiable as a mixture of propane and butane under heading 2711 1300, since butane predominates up to 98%. The contention of the appellant-importer that LPG cannot be imported as such and is always in the form of propane, butane, or their mixture was rejected, particularly in light of subsequent exemptions specifically extending to LPG, liquefied propane, liquefied butane, and their mixtures, evidencing distinct tariff treatment. Consequently, the benefit of Sl. No. 75(E) of Customs N/N. 21/2002 and Sl. No. 10 of Central Excise N/N. 4/2005 was denied, and the appeal was dismissed.
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