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 allowed the appeal filed by M/s X against denial of exemption under Customs N/N. 57/2017 dated 30.06.2017. It held that the imported Mechanical Electrical Assembly Front qualifies as "Display Assembly" for use in manufacture of cellular mobile phones under serial no. 6(a)(iv) of the notification. Inclusion of a nondetachable battery and other additional components (receiver, PCBA, vibration motor) in the assembly does not alter its essential character as a display assembly nor deprive it of exemption. The Tribunal found no evidentiary basis for the department's reliance on "common trade parlance" and reiterated that exemption must be determined strictly on the plain language of the notification, without importing external policy documents or presumed intent. The impugned order of the lower authority was set aside and the customs duty demand and consequential liabilities were quashed.
CESTAT allowed the appeal filed by M/s X against denial of exemption under Customs N/N. 57/2017 dated 30.06.2017. It held that the imported Mechanical Electrical Assembly Front qualifies as "Display Assembly" for use in manufacture of cellular mobile phones under serial no. 6(a)(iv) of the notification. Inclusion of a nondetachable battery and other additional components (receiver, PCBA, vibration motor) in the assembly does not alter its essential character as a display assembly nor deprive it of exemption. The Tribunal found no evidentiary basis for the department's reliance on "common trade parlance" and reiterated that exemption must be determined strictly on the plain language of the notification, without importing external policy documents or presumed intent. The impugned order of the lower authority was set aside and the customs duty demand and consequential liabilities were quashed.
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